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BTC analysis – the price is heading at $ 23,000, but volumes are still missing

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BTC is expected to continue in sideway structure which is bordered by $ 17,600 and $ 23,000. It seems that the price will remain in this interval for some time. In the short term, it even seems that BTC will overcome resistance. The dominance of the main cryptocurrency, meanwhile, is stagnating at 43.08%.

BTC is located right at resistance with max correction leg. However, this resistance is only short-lived and therefore does not matter in shaping trend reversal. However, it can be a harbinger growing leg on the $ 23,000 target. This would form a pattern head and shoulders.

Bitcoin head and shoulders

BTC head and shoulders. Source: Tradingview

BTC will grow in the short term

If the price manages to exceed $ 23,000 and is suddenly backed by volumes, it is realistic that the price would go to the next resistance about $ 26,500. However, it is not relevant to follow this scenario yet volumes we don’t have and we’re far from $ 23,000.

If we summarize the current situation on the BTC chart, a lateral movement is forming and the price will probably continue in the next few days. Bullish a breakout and a signal will occur at $ 23,000 bearish at $ 17,600.

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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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