, 2023-01-25 09:07:35,
Bitcoin (BTC) saw weakness at the Jan. 25 Wall Street open as United States equities fell in step.
BTC price faces stiff resistance
U.S. stocks saw a weak start to the session, with the S&P 500 and Nasdaq Composite Index down 1.1% and 1.6%, respectively, at the time of writing.
Bitcoin bulls had themselves faced trouble, attempting to push into an area of liquidity above $23,400, this so far remaining unchallenged and home to a significant number of would-be short liquidations.
Traders remained on the fence, hoping that a clearer trading signal would come after several days of essentially sideways price action.
“This is what I am looking for on Bitcoin with a corrective wave now, followed by another leg up to my $25,000 overall,” Crypto Tony commented alongside an explanatory chart.
“Invalidation is if we began to breakdown from here.”
Cointelegraph contributor Michaël van de Poppe was also opting to wait and see on the day.
“Patiently waiting for Bitcoin to drop beneath $22.3K or breaking and reclaim $23.1K. In between I don’t see much of an interesting set-up,” he told Twitter followers.
Some optimistic takes remained, including that from Crypto Ed, who eyed a potential higher low for BTC/USD setting the stage…
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