Bitcoin price falls below $23,000

Bitcoin’s price pulled back to around $22,500 after hitting resistance near $24,000.

The decline was accompanied by a sharp rise in trading volume. Shortly before the correction, digital gold reached an all-time high.

30-minute BTC/USD chart from Bitstamp on TradingView.

Over the course of a few hours, long bitcoin positions were liquidated for almost half a million dollars.

According to journalist Joseph Young, sell walls formed at $24,200 and $24,500.

If any brave soul is trading this range, $24.2k and $24.5k are strong sell Bitcoin walls on Bitfinex.

Beware of high volatility like last night.

$23k big support on heatmaps.

This rally to $24.2k would be 3rd test, which historically breaks. Still, be wary. pic.twitter.com/C0Pu88im6Y

— Joseph Young (@iamjosephyoung) December 21, 2020

Some users expressed hope that the so-called ‘altseason’ would arrive soon.

🚀 $BTC 🤝 alts 🚀 pic.twitter.com/PO8sakmoU4

— CRYPTO₿IRB (@crypto_birb) December 21, 2020

As of writing, the top ten crypto assets look like this:

Data: CoinGecko.

Gold prices fell in tandem with Bitcoin and altcoins.

Data: Investing.com.

The S&P 500 slipped in the short term, but soon recovered against the backdrop of news of further stimulus measures in the United States.

Earlier, trader Nikita Semov predicted a short-term correction in Bitcoin.

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