Leading cryptocurrency bitcoinIt fell as low as $22,750 after it failed in attempts to surpass $25,000.
Some recovery afterwards BTCCurrently, it continues its sideways movements at $23,000 levels.
While investors are wondering what direction Bitcoin will move in, November’s low at $ 16,000 bought BTC, at its peak of $ 25,000, but again at $ 23,000. BTC Buyer DonBottom Bitcoin comment came from the analyst using the pseudonym.
Pointing out that this day, which will be the monthly closing in Bitcoin, is critical for the crypto markets, the analyst said that a very important moment is approaching for the BTC monthly closing markets.
Stating that Bitcoin is on the verge of closing above the monthly resistance of $ 23,291, the analyst argued that this shows that the 2023 rally of BTC is not over yet.
“If we close above the monthly resistance, we may see another small drop next month.
But overall, I expect BTC to rise again. So I am quite happy to have a position in Bitcoin.”
The analyst, who sold half of his Bitcoins in the past days, stated that he re-entered the market due to the fear of missing the opportunity, and said that the upward trend in BTC continued despite the decreases.
“If Bitcoin breaks below $23,000 once again and approaches a key short-term support area around $22,500, traders need to be extremely cautious.
And I think we had some pullback towards the best support in that area, $23,000.
If this support level starts to break down, I think it makes sense to be cautious.
Because then we enter an area where we are no longer making higher lows and we are back to the old ranges below $22,500.”
*Not investment advice.
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