Bitcoin price has now been rejected from $24,000 for the “umpteenth” time as of now and looks to drop below $23,000 considerably in the coming days. While the buying volume has seemingly ebbed in recent days, the chances of a quick rebound also seem pretty low. Therefore, a significant drop can be expected in the coming days.

With the current price movements, the price of BTC shows a couple of chances of running out within a deep downtrend. As the popular analyst suggested, currently, the flagship cryptocurrency has two options, and sadly, both are bearish.

The analyst says here that Bitcoin prices may rise well past $25000 and eventually fall hard to reach $23,500 or $22,500 as well. In a prolonged case, the price of BTC could continue to fall sharply and form new lows later.

On the contrary, the price of BTC can validate a bullish confirmation in case the asset breaks above $26,000. However, the chances of such a breakout seem rather less since, according to the chart published by the analyst, the asset does not have any bullish momentum in the near future.

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