The value of Bitcoin (BTC) has found high resistance at $25,000. Despite having tried on several occasions to break.
that .mark and carry, he has failed at every opportunity. Now, traders are looking for support prices and possible moves in a limited period, looking at how the market has behaved of late.
As the analyst Lark Davis points out via Twitter, it is the best opportunity in just 7 days that the value of bitcoin rejects the breakout after touching $ 25,200 per unit. This is then a "difficult area" for bullish traders, in the words of Davis.
For the trader known as @CryptoTony_, the rejection of that high does not represent a move to look for a bigger drop at the moment. In his opinion, a solidification has been created in a range that goes from 23,400 to the resistance level of 25,200 dollars. During the change, it remains at that lower level, its forecast continues to be fair, he added on the morning of this Wednesday, February 22.
A similar attitude is held by the CEO of the Eight trading platform, Michaël van de Poppe. For him, this type of variation represents a situation to acquire because it would be preceding a new rise in price.
Not all of them are as positive as the aforementioned merchants. The position of @GranMag0, for example, is bearish before the new change in the price of BTC. In fact, days before it had glimpsed a probable break in the consolidation line that was on the rise.
The analyst warns that, after reaffirming the "accumulation model broken downwards", a new attempt is coming towards the high support line which, he assures, would become a new resistance.
Immediately after that, the price would drop again, says the merchant.
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