- BTC price struggles again as price trades at a key level of $23,000 with many uncertainties as to where the price is headed
- BTC price on higher timeframes looks bearish as this could lead to more downside if the price fails to trade above $23,500
The price of Bitcoin (BTC) and altcoins, in general, hasn’t been in the best shape after the price of BTC struggled to break higher above the region of $25,000, which looks like a strong resistance for BTC price in recent times.
After facing rejection to trade higher to the region of $25,000, the price of BTC has fallen drastically recently to a low of $23,000 as the price could trade lower if the price of BTC fails to trade above key regions.
Reading: Bitcoin Must Hold Above $22,700 To Remain Bullish; Here Is Why
Despite the uncertainty in price in the past few days, Optimism (OP) has been rather bullish as the price aims to rally to a high of $3.5 to $4 if the market conditions are favorable for the price.
The price of OP has held well above $2.8, highlighting how bullish the asset’s price has been coupled with the news that its community building in the bear market has been a catalyst for Optimism.
Bitcoin (BTC) Daily Analysis
The price of BTC has struggled to show steam after facing resistance to rally past $25,000, acting as a key region of interest for supply orders. The price has struggled to hold above $23,500 as it retested the $22,900 before reclaiming $23,000.
If the price of BTC fails to hold above $22,500 and $21,500, this could lead to more downside and bears taking control of the market.
The price of BTC needs to reclaim the region of $24,000 to resume its bullish momentum with more expectation of a rally to a high of $25,000 and a possible rally to $28,000.
If the price of Bitcoin (BTC) struggles to reclaim these regions, we could see the price dropping lower to key regions of $21,500 and $18,400, acting as high-demand zones for price.
Image Kriptomat, chart from Tradingview.com
