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Bitcoin September 12, 2022 – One resistance at a time


The ultimate bear wall – The price of Bitcoin (BTC) rebuked them for $22,000, as the bulls still 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 chandelier to absorb the Bitcoin price

Bitcoin price rises to $22,473 on Bitfinex today, September 12, 2022. Cryptocurrency traded at $22,414 at the time of writing this article. They are currently seeing 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 last weekend.

The cryptocurrency, however, is not yet able to absorb the big red luster of last August 19, which had 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 round trip from $23,200to erase this significant loss, recorded during this day.

The analysis of trader Michaël van de Poppe, who would like “preferably he will keep his top of $21.6-21.8K for the moment”, incidentally criticizes 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 last 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 high concentrations of whales are, Whalemap pointed the $22,780-$23,400 area as the new key resistance area to watch.

Bitcoin September 12, 2022 – One resistance at a time
Publication 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 rise in the price of Bitcoin to $25,000, if the bulls become able to overcome this final obstacle?

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 – from $30,000 or more. In the very short term, the markets will have to pay attention to potential rejections at the levels near $23,000.

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