Quote from: kotajikikox on Today at 06:06:24 AM

Quote from: Wexnident on August 18, 2022, 12:18:47 AM

Shouldn't it be $25k? We're presently at $23k and we even moved up to $24k afaik. If you're saying that it's because we went back to $23k, then it's just that, it failed the check at $25k so it dropped down. Wouldn't really consider it to be that big imo, its something that often happens anyway. Not to mention that we've only been around a month in ever since Bitcoin dipped to the $20k levels from above $30k. Wouldn't really expect (nor want) a big pump all of a sudden.

That is what i meant here , it must be 25k instead of 23k because 25k is the barricade now and needs to be broken completely .

I'd argue the opposite. $23K prices has become a local distribution level based on volume of sellers there in the past month. $25K ain't much more than physiological resistance by looks of it, whereby price got rejected from there due to losing bullish momentum, rather than because it's some form of relevant resistance level, it's more of less middle of nowhere trading range wise.

If $23K can be reclaimed and turned back into an accumulation level (with price above it), then personally I don't see $25K acting as resistance second time around. Also looking for example at the Daily chart, there were 4 consistent days of selling above $24.5K, rather than at $25K, similar to what happened at $24K. With these prices all so close together it looks a lot more like bullish exhaustion than anything else.