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Bitcoin can face some serious problems if the bull is unable to push the price of the first cryptocurrency above $ 22,000
As mentioned in the previous article, in relation to Bitcoin price performance market, If the previous price range is not maintained, the first cryptocurrency could be set at $ 19,000 in another plunge.Unfortunately, Digital Gold is struggling to keep up with selling pressure offer..
Clemente shared the charts mentioned earlier in the June 24th post. Analysts emphasized the price range that serves as a turning point for BTC. If for some reason the cryptocurrency falls below range, it could return to the $ 19,000 zone.
Update: It’s 21 hours to close, but it’s not Bueno to get back in range. https://t.co/CW66vhXBli pic.twitter.com/NlIN1ShKzm
Clemente (@ WClementeIII) July 25, 2022
Unfortunately, Bitcoin has lost most of the profits it has seen since June 18, when the price of the first cryptocurrency soared from $ 20,700 to $ 23,800 in two days.
The main reason why so many traders and analysts want Bitcoin not to fall below the $ 22,000 threshold again is the abundance of market inflows, which can lead to serious future price bounces. It will be a problem. market..
It suggests the fact that the current rise to $ 23,000 was a bear trap as Bitcoin easily broke through the trendline resistance and soon returned, leaving the Bulls open above the locals. There are many factors resistance Great loss level.
The influx of institutions into the crypto market is still at a relatively low level. This is another factor that goes against Bitcoin’s success in the immediate market, especially when the value of the first cryptocurrency reaches mid-July levels.
