Bitcoin September 12, 2022 – One resistance at a time

The ultimate bear wall – The price of Bitcoin (BTC) is rallying around $22,000, as the bulls still have to face a major hurdle, before they can get to the midway point of the $20,000-$30,000 range.

This Bitcoin price analysis is brought to you in collaboration with the Coin Trading and its algorithmic trading solution finally accessible to individuals.

A red candlestick to absorb for Bitcoin price

Bitcoin price rises to $22,473 on Bitfinex today, September 12, 2022. Cryptocurrency trades at $22,414 at the time of writing this article. Its price is currently registering a daily gain of 3.57%.

Bitcoin is expected to close the day in the green for the sixth straight time today. It broke through the resistance zone around $21,500 during the past weekend.

However, the cryptocurrency is still unable to absorb the big red candlestick of August 19, which had taken the price of the cryptocurrency from $23,000 and above, to levels just under $21,000 in the space of 24 hours. Bitcoin price must return to around $23,200to erase this important loss, recorded during this day.

The analysis of trader Michaël van de Poppe, who would “preferably see it stay above $21.6-21.8K for the moment”, also takes up these key levels for Bitcoin price. Michaël van de Poppe estimates that the next resistance could be around $23,300.

Publication by Michaël van de Poppe – Source: Twitter

Bitcoin price: the ultimate resistance before the reconquest of $25,000

Data from Whalemap provides more detail as to the resistance the bulls now face. Based on the levels where the highest concentrations of whales are found, Whalemap pointed the $22,780-$23,400 area as the new key resistance area to watch.

BTC USD: new resistance according to the concentration of whales
Publication of Whalemap – Source: Twitter

Whalemap points out that this resistance zone is “serious”, but it is nevertheless the last “ in the range of $19,000 – $25,000. Should we then expect a relatively easy ascent of the price of Bitcoin to $25,000, if the bulls manage to clear this final hurdle?

The crypto winter is certainly still far from over. Nevertheless, patterns are beginning to emerge as to a possible takeover – which will not be easy – $30,000 or more. In the very short term, the markets will have to be interested in potential rejections at levels near $23,000.

Is it possible to be gwinner every time? Whether the Bitcoin price is in great shape, or going through turbulence, Coin Trading offers you to increase your chances of success. Indeed, Trading Du Coin allows individuals to access an algorithmic and 100% automated trading tool. A real trend mechanism, this tool has been designed to adapt to market reversals and position itself on the most dynamic crypto assets of the moment.

John R. Zepeda

I have extensive experience working as a content writer in the areas of cryptocurrencies and finance, where I create interesting pieces that both inform and engage their audiences.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button