Why Bitcoin Price Meets Strong Resistance at $23,000 Is Likely a Healthy Prelude to the Next Pump

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On January 22, the major cryptocurrency, Bitcoin, is trading sideways with the price remaining within a limited range of $22,500-$23,350. Bitcoin has seen a surge, which could be attributed to whale activity, public procurement, and the cryptocurrency’s ability to disrupt financial systems.

After a long period of turbulence, the stability of the crypto market has returned and many people are now optimistic about the future of the coin.

According to Santiment, the majority of the accumulation of over $1 billion over the past 15 days came from 1 to 1,000 BTC transactions. Additionally, whales with 1,000 to 10,000 BTC holdings accounted for 83% of the accumulation.

Why Bitcoin Holders Are Avoiding Leverage During The Current Rally

According to data from GlassNode, the amount of bitcoin held or lost is at its highest level in 5 years. This demonstrates that the price of bitcoin, in particular, has increased significantly in recent weeks and months. This is also demonstrated by the fact that the leverage has decreased. Bitcoin trading is becoming more and more popular these days.

When the market is on your side, Bitcoin can provide a nice boost in income. If the market goes against you, Bitcoin trading becomes too risky and loses its potential value.

By 2022, many people who have invested in cryptocurrencies will have lost money. Even during the current rally, the demand for leverage remains very low. Many believe this is due to heavy investment in cryptocurrency mining and staking efforts rather than leverage.

Since December 22, 2022, bitcoin’s estimated leverage ratio has declined and remained volatile. The current ratio was last this low on May 22. But how does this affect the market?

Bitcoin’s rapid growth has made it a risky investment for many. Some investors avoid using leverage by investing more money in cheaper coins.

For good reason, the use of AI writing assistants in the workplace is becoming more commonplace. If you decide to work with them, there is no significant risk of liquidation. You can focus on other critical aspects of your business.

bitcoin price

The current Bitcoin price is $22,588 and the 24-hour trading volume is $24 billion. Bitcoin has fallen nearly 2% in the past 24 hours. With a live market capitalization of $435 billion, CoinMarketCap currently ranks number one.

On the daily time frame, Bitcoin faces strong resistance near a double top pattern at $22,830. If the candles close below this level, a bearish correction is likely to begin and last down to the $21,500 level.

The RSI and MACD indicators are in the overbought zone, indicating that there are chances of a bearish correction in BTC. A break below $21,500 can expose the price of BTC to $20,450.

Bitcoin price chart – Source: Tradingview

On the upside, Bitcoin’s immediate resistance is $22,800, and a break above this level can expose BTC to $23,900 and $25,150.

3 pieces to watch during the presale

With each passing day, the bitcoin market is growing. Presale coins often offer investors the opportunity to enter the ground floor of a new project and reap the benefits of that project’s success while exposing themselves to potential dangers.

With that in mind, here are three pieces to look out for during the pre-sale.

Fight (FGHT)

Fight Out is a simple and inexpensive way to stay active. By acquiring FightOut tokens, you can access experienced personal training services at a moderate cost. This means that even people on a tight budget can benefit from physical activity.

Despite Move2Earn’s comprehensive feature set, its ability to analyze physical and mental condition, along with its NFT avatar and social competitive component, sets it apart from other M2E apps.

Users can test and track their development in strength, cardiovascular endurance, and other areas using Fight Out’s real-time performance tracker.

Investors like Fight Out’s $FGHT cryptocurrency because it has a solid concept and high pre-sale rewards ranging from 50% to 100%, depending on the amount invested. Already, more than $3 million has been raised.

Visit FightOut now

C+Load (CCHG)

C+Charge creates a revolutionary online payment solution for electric vehicle (EV) owners. Users will be able to exchange their initial charge for credits that can be used to purchase carbon credits. The ultimate goal is to significantly reduce greenhouse gas emissions caused by driving.

Given its truly revolutionary potential, this technology has the potential to completely disrupt the carbon credit market. This allows a wider range of businesses to join while adding value to them.

VCMs are expected to be worth $100 billion by 2030, making them an intriguing investment opportunity for companies. The presale of C+Charge raised around $360,473, demonstrating the huge demand for VCM.

Visit C+Charge now

Meta Masters Guild (MEMAG)

Within days, the Meta Masters Guild went from $200,000 to $550,000. This significant growth implies that the public has a high level of confidence in the company’s potential to thrive and generate profits in the future.

Meta Masters Guild will release its first mobile game in the third quarter of 2023. The MEMAG network has been operational for some time and allows users to produce and manage their own coins as well as trade on the open market.

They are also working on games in which participants can earn rewards, as well as games powered by Web3, an Ethereum-enabled technology. Investing in MEMAG currently begins with the purchase of $10 in MEMAG tokens.

You will receive a token for a penny if you engage in the presale; early investors will have a limited window of opportunity to participate.

Visit Meta Masters Guild Now

Find the best price to buy/sell a cryptocurrencyCryptocurrency Price Tracker – Source: Cryptonews

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