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Bitcoin price battles $23.5K resistance amid relief over Pelosi Taiwan trip

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cointelegraph.com

Bitcoin (BTC) rose to daily resistance at the Aug. 3 Wall Street open as United States equities gained on relief over Taiwan.Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the area just below $23,500, which had figured as resistance since the start of the month.The pair had previously held the same zone as support, and was now deciding on whether a new resistance/ support flip was on the cards.

For popular trader Crypto Tony, $23,500 was thus the price to watch to long BTC.$BTC / $USD - Update Keep it simple this morning on #Bitcoin ..- Long above resistance at $23,500- Short below support at $22,650 pic.twitter.com/onXXRvdXx8To the downside, fellow trader Pentoshi highlighted the area between $21,800 and $22,000 as the "line in the sand" for BTC.Stocks performed well on the day, meanwhile, with the S&P 500 and Nasdaq Composite Index gaining 1.2% and 2%, respectively, after the open.

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