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BTC analysis – price goes for resistance $ 23,000

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BTC continues its short-term trend, but is facing resistance. Volumes they are not significant yet and we can rather wait sideway movement. Only time will tell if this sideway movement can be reversed. The dominance of the main cryptocurrency, meanwhile, continues to fall and is currently at 44.17%.

RSI formed in the short term positive divergence which speaks of a reversal of the trend, but only in the short term. $ 20,700 represents resistance. But so far the price does not respond and others bullish the target could be $ 23,000.

Bitcoin analysisBTC analysis. Source: TradingView

BTC in moderate growth

So far, this only looks like short-term growth, which, moreover, is not supported by significant volumes. Target $ 23,000 is located at 38.2% retracement of the previous declining trend and at the same time there is also the last short-term local maximum. Interesting resistance however, the white line in the graph above would be higher.

This is because it is declining resistance of maximum correction. But I don’t think we’ll get over it now. In addition, a higher long – term maximum would occur up to $ 32,000 which is also a remote value so far.

BTC grows in the short term, but the trend is likely to be short – lived. Target is at $ 23,000, with volumes missing. It will be important to watch where BTC creates another minimum.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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