Let us say the present resistance is at $25000, this is because bitcoin increased to $25000 two time recently, first on the 14th of August, while also in the follow day which was 15th of August. Bitcoin could not reach more than $25200 and the daily down trend began again, but just two days now.
This is just a short time speculation, the resistance could be strong around $25000, but it was noticed that the support was also strong around $20000, people are not really selling more around that price, people are holding.
I do not know about short time speculation, but if you can just hold your bitcoin for a long time, $25000 will have no option for bitcoin than to be a support level, leading to a time bitcoin will never fall below $25000 again, just like $2500 of the past, when bitcoin was around that low price if compared to today's price.
Topic: Why there is so much resistance at $23k price - page 7. (Read 1241 times)
Imo the ath in 2017 was between $19k
and $22k (it was different for different exchanges from what I remember).
It looks to have also made the first resistance after breaking the power end of the ath as bitcoin consolidated around $22-24k. Aside from that, the main issue I can see is the $25k region as the bitstamp chart says we've already bounced away from there after being close to it.
and $22k (it was different for different exchanges from what I remember).
It looks to have also made the first resistance after breaking the power end of the ath as bitcoin consolidated around $22-24k. Aside from that, the main issue I can see is the $25k region as the bitstamp chart says we've already bounced away from there after being close to it.
Bitcoin market prices have witnessed a lot of resistance and several attempts to make a head up the price of $25k after several weeks of a downtrend, there have been a lot of speculations surrounding the present market situation. But with the right thought and analysis, I am sure if Bitcoin could break the present resistance price moving upward would be that hard anymore.
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