Bitcoin (BTC) is struggling to hold above $23,500 on August 18 as the flagship digital asset attempts to maintain an uptrend that has been on the rise over the last two months.
On the daily bar chart, it is evident that the bulls’ strength is waning, and they will soon need to demonstrate newfound resilience in order to maintain a price rise that has been in place for the last two months.
Additional selling pressure throughout this week might either reverse the price trend that has been rising or, at the very least, put it in an even more precarious position.
Bitcoin loses support trend line in-depth look
The flagship digital assets price saw a key price support level drop after the minutes from the Federal Reserve’s meeting in July shattered expectations of a return to a more accommodative monetary policy in the United States in the next year.
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