Post
Topic
Board Speculation
Re: Why there is so much resistance at $23k price
by
Silberman
on 24/08/2022, 03:35:06 UTC
I think that the resistance at $23k is a weak resistance, its not that strong, as compared to the resistance at $25k. We all can see the sharp rejection after it had reached $25k. It will break those resistance soon its just a matter of time. But I'm having a feeling that bitcoin might test 21k again the upward movement is not yet confirmed totally, but I believe that the bear season will soon be over

I think retesting of $21k isn't a big deal for this season because the price is still playing around the reach as no precise direction has been confirmed for now as to that the price can drop down or up to meet the correction before riding any direction. I think IMO that the market is not ready for a major move, it is going to be within this reach for sometime.
Yes, the price is going nowhere, for a time it seemed as if the price was actually going up and that it was a matter of time for the price to surpass the 25k barrier, but it did not happened and now we are seeing the price at the 21k level, so I think this confirms what a great deal of us thought, that the market is just ranging and it is a mistake to think that this is going to change any time soon as there is simply not a lot of strength in the markets right now.