Bitcoin tests resistance zone

Source: Dukascopy Bank SA


Since the second part of June, the price for Bitcoin has been testing the resistance zone at 21,970.00/24,340.00. During late July, the rate had even approached the upper border of the resistance zone. On July 28, the pair was located at the 23,000.00 mark.

A move above the 24,340.00 level is expected to encounter resistance in the 25,000.00 mark. Higher above, take into account the resistance line of the 2022 channel down pattern and the 29,500.00/28,800.00 zone.

On the other hand, a decline of the cryptocurrency is set to look for support in the 2020 high at 20,100.00 and the 20,000.00 mark, prior to approaching the historical low levels that are marked at 17,613.10, 16,450.00 and 16,000.00.
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