Turns Out that 25K Area Was a Bitcoin Price Resistance

A week ago I did an analysis on bitcoin price and pondered if there was a resistance in the 24-25K area.

In that post I brought up a 4 hours chart to share what I was seeing.

I will post a 4 hour chart below of current day and we'll see the answer has come...

BTC Sellers Step In

Looking at the chart above you can see price made multiple attempts to push through 25K but just couldn't do it.

After several failed attempts it comes as no surprised that price finally got hit with a sell off.

There is some possible support around 21k when looking at the 4 hour chart, realistically though the 20K area is the true downside support.

You can see the blue trendline on the chart above that lays over from the daily chart.

Clarity on the Daily

Looking at the daily everything looks much more muted and pretty clear on the nearest upside and downside targets

The price of bitcoin is down roughly 8% for the day as I write this and I barely noticed. That is crypto for you, 10% moves in a day are not out of the norm.

Posted Using LeoFinance ^Beta