- Bitcoin aims to continue its rise by closing daily above the support level of $25,800.
- If the price surpasses the resistance level of $27,000, it may bring the target of $28,300 into focus.
- However, if it fails to break the resistance level of $27,000, there is a risk of the price retracing back to the support level of $25,800.
According to the daily technical analysis of Bitcoin, it finds support above $25,800 and carries potential for an upward movement. The resistance level of $27,000 stands out as an important level.
Medium-Term BTC Analysis
Daily BTC/USD Price ChartWhen examining the daily technical analysis of Bitcoin, it can be observed that price movements above the support level of $25,800 continue. Although the BTC price fell below the $25,800 support in the past week, it managed to close daily candles above this important level. This situation increases the potential for Bitcoin to rise towards the level of $27,000.
If the BTC price continues to close daily above $25,800, it may aim to reach the mentioned level of $26,942. If the BTC price closes daily above $27,000, the next target for an upward movement will be the level of $28,300.
However, the closures above the level of $27,000 are of great importance for Bitcoin. If this level cannot be surpassed, the price may retrace back to the support level of $25,800 to test it.
Short-Term BTC Analysis
When examining the short-term technical analysis of Bitcoin, it can be observed that the BTC price is making efforts to hold above the support range of $25,800 – $25,900. As long as the BTC price closes daily above $25,800, it may intend to move up to the mentioned yellow zone.
However, if it encounters strong selling pressure from the yellow resistance zone, it may have the potential to extend its decline to $25,800 and then to $25,600 levels. However, if Bitcoin achieves daily closures above $26,250, it may set the next target for an upward movement at $26,600.
If BTC surpasses the $26,600 resistance level, the level of $27,000 can be considered as an important target. It is recommended for investors to carefully monitor the mentioned levels and determine their strategies based on price movements.
