- 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.
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