Dear Readers, 

As discussed last week on the BTC price movements, Bitcoin is slowly rolling back to $ 23000 after having touched $ 24000. 

We have explained in detail about the BTC technicals last time. If you have missed have a look at here.

At the time of writing this article, BTC is trading at $ 23133.44, a down of 1.48% from yesterday. It is to be noted that the trading volume have also decreased over 29% in the last 24 hours. 

$ 23000 act as a crucial trading point for BTC. 

As discussed earlier, BTC would touch $ 23000 and to start a upward movement. If it breaks the crucial $ 23000, it would retrace $ 21300 / $ 19700 and make a upward movement. 

So every one is having a close watch on how BTC's movement at the $ 23000 level which is a major support. 

The trading volume in an encouraging one. 

But the key crucial momentum oscillators for BTC are indicating a negative trend.

If BTC go above this area, $ 25200 is a major resistance. At various times in the past, BTC failed to surpass this level. But if BTC trades with good volumes, it may break this level in the coming days. 

But, interestingly Ethereum trading around the strong support level of $1600. If it sustains this level, it will go up again. Currently ETH trades at $ 1648.60, a low of 2.41% from yesterday with a drop of 24.88%. 

Let's wait and see whether the movement is upwards, downwards or sideways?