- When examining the hourly technical chart of Bitcoin, price movements below $26,000 are observed.
- If hourly closes below the $26,000 level continue, the decline could extend towards the $25,600 level.
- If the BTC price manages to achieve hourly closes above $26,000, it holds the potential to carry the upward trend to the $26,300 level.
The hourly technical chart of Bitcoin shows movement below $26,000. If hourly closes below the $26,000 level continue, there’s a possibility of expanding the decline to levels around $25,600.
Mid-Term BTC Analysis
Daily BTC/USD Price Chart
Examining the daily technical chart of Bitcoin, the price is seen moving above the $25,800 support. Despite green closes in daily candles over the past two days, a 0.79% drop was experienced today. As long as Bitcoin remains above the $25,800 level, it carries the potential to sustain the upward trend towards levels around $27,500.
However, if the BTC price achieves daily closes below $25,800, it might first carry the decline to around $25,200 levels. If closures occur below $25,200, the drop could extend to levels around $24,700.
On the other hand, if Bitcoin achieves daily closes above the $24,700 support, it holds the possibility to restart its upward movement. If Bitcoin encounters strong buying reactions within the critical support range of $25,200 – $24,700, its target could be set at the $27,600 level.
Short-Term BTC Analysis
1 Hourly BTC/USD Price Chart
When examining the hourly technical chart of Bitcoin, it’s observed that the price is moving below $26,000. If the BTC price continues to achieve hourly closes below the $26,000 level, the decline might extend to levels around $25,600.
However, if the Bitcoin price manages to achieve hourly closes above $26,000, it holds the potential to carry its upward movement to the $26,300 level. If BTC achieves a close above $26,300, it could set its next target at the $27,000 level. If the price achieves hourly closes above the $27,000 level, it could consider extending its upward movement towards levels around $27,700.
Hourly candle closes above or below the specified support and resistance levels play a critical role in determining the direction of price movement.
