Bitcoin (BTC) Price Needs To Hold $18,000 At All Means, Why So?

Bitcoin (BTC) price has had turbulent times against tether (USDT) as more pain increases for bulls. Despite showing so much strength, the price of Bitcoin (BTC) bounced off from $19,000 in the past weeks to a region of $25,000 as many hoped for more relief to rally to a region of $30,000. The price of BTC faced rejection and has continued to fall with no sign of bears giving up. (Data from Binance) Related Reading: TA: Ethereum Price Nosedives, Why ETH Could Soon Test $1,200 Bitcoin (BTC) Price Analysis On The Weekly Chart BTC saw a decline in its price from $69,000 to around $18,500, with an over 70% drop from its all-time high. The price of BTC bounced off after touching a weekly low of $19,000, and the price rallied to $25,000, showing some great strength as many set prices and expectations for a rally back to $30,000, but the price was faced with rejection. The price of BTC on the weekly chart formed a downtrend line as the price continued to respect this resistance line bouncing off to maintain its bearish run. Still, the price of BTC could not break this trendline after a while, with the price being rejected from the trendline resistance. BTC’s price is trading above the key support of $18,000; the price of BTC needs to hold above this support to avoid the price going lower to $16,000-$15,000. With the price of BTC holding this support, we could have the chance of trading higher to a region of $20,000. A break belo...