Bitcoin has built a great position over the past week, but difficulties in the $ 20,000 area still persist.
What we are currently seeing in the Bitcoin market is a difficult struggle for a long-dreamed price tag that Bitcoin has not yet surpassed.
Since our last analysis, Bitcoin has managed to overcome the $ 19K resistance without any problems, and its steps have immediately led to the $ 20K price range. Here, however, it was far from easy for Bitcoin, and after reaching a maximum of $ 19,888 (binance), the bears sent him back to $ 18K in a short time.
Here, however, a particularly important situation arose for Bitcoin, when it managed to bounce back several times and turn until recently one of the strongest resistances in the $ 18.5K area to current support.
Bitcoin therefore still has a very good starting situation and important support, which can cover his back in the coming days and the bulls can attack again for $ 20K.
Technical analysis:
- Strong support at $ 18.5K
- Strong resistance at $ 19.5K
- Psychological resistance at $ 20K
- Almost equal buying and selling volumes = neutral
- Very important support at $ 15.7K – $ 16K and $ 14K
Read also: Institutional Bitcoin trading recorded the most successful day in history
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