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30.09.202214:55 Forex Analysis & Reviews: Bitcoin bulls still unable to recapture $19,800.

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Blue line- resistance trend line

Blue rectangle- horizontal resistance area

Bitcoin bulls made another attempt today to break above the short-term resistance around $19,800-$20,000. Short-term trend remains neutral as price continues moving sideways. Bitcoin shows signs of rejection once again. Support at $18,800-$18,500 remain key. Failure to hold above these two levels will open the way for another sell off towards $12,000. Key resistance is at $21,200. Bulls need to break above this level in order to hope for the start of a new up trend.

Alexandros Yfantis
Analytical expert of InstaForex
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