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.
A lot of confluence coming at same point , All this factors below I do think could be responsible getting stocked $20k-23k level.
1.Previous all time highs (ATH) at $20k getting respected.
2.The price is fighting between the 0.786 of the Fibonacci retracement and 0.618 Fibonacci golden pocket levels of resistance.
3. When you pull out your VPVR volume indicator you could see a lot of trading volume coming in that zone.
4.Then lastly is the average price of Bitcoin if using 4 years simple moving average, the price fall within 21k price level and above.