#Bitcoin Analysis
As selling pressure eased in the cryptocurrency market, the price of Bitcoin rebounded from its local support level of $22,700
This bullish recovery has resulted in a 1% gain over the last 24 hours, with the current price at $23500.
Despite this rise in price, the decreasing trading volume suggests a weakness in bullish momentum.
Therefore, it is more likely that the Bitcoin price will revert from the $24,500 resistance level and continue the ongoing correction phase.In the event of sustained selling, holders of the coin can expect a retest of the $21000 mark.
