The previous day, Bitcoin continued its upward movement toward the $25,000 level, and this time there was a strong negative reaction to this resistance.
The selling pressure broke the support of the $24,550-$24,640 range, marked by the pivot point. The decline continued to the $23,900 range, and a positive reaction has also been seen in this range.
There are still two solid supports for Bitcoin in the near term, and until these levels are broken, we can expect the price to continue to grow. But we need to see price stabilization on support levels.
Although the price trend is range on 4H and 1H timeframes, but the momentum is downward movement, and we should wait until a good reaction to the support.
The selling pressure broke the support of the $24,550-$24,640 range, marked by the pivot point. The decline continued to the $23,900 range, and a positive reaction has also been seen in this range.
There are still two solid supports for Bitcoin in the near term, and until these levels are broken, we can expect the price to continue to grow. But we need to see price stabilization on support levels.
Although the price trend is range on 4H and 1H timeframes, but the momentum is downward movement, and we should wait until a good reaction to the support.
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