Post
Topic
Board Speculation
Re: Why there is so much resistance at $23k price
by
yudi09
on 23/10/2022, 06:34:24 UTC
Support and resistance levels usually switch up positions, 20k was a strong support and it seemed as it will resist until the next bull run but now it is a resistance that bitcoin is having a lot of problems to surpass.

And if that resistance level continues to be strong then I would not be surprised if during the next months our current support level breaks and then it becomes a resistance level as well, so we have difficult months ahead of us, but at the same time it is not like this is the first time we have experimented something like this before.
Yes. currently $20K can be said to be a strong support for the next price increase. We will continue to wait for the support point to be reached later this week because selling is still very strong.
If in the past few weeks Bitcoin can cross the $23K price, then $25 is the starting point for the next resistance.
For some traders expect the price to increase further, but if market forces are not too strong, then the price still cannot go up.