Bitcoin Technical Analysis: How Far Will Its Rise Continue?

  • Bitcoin, if it achieves 4-hour candle closes above the $26,300 resistance, it can continue the upward trend.
  • Bitcoin, as long as it stays above the support range between $25,200 and $25,600, it can continue the upward trend.
  • Bitcoin, if it fails to achieve daily candle closes above the $27,000 level, it can initiate the downward trend again.

Bitcoin, if it achieves 4-hour candle closes above the $26,300 resistance, it can continue the upward trend. However, if it falls below the support range between $25,200 and $25,600, it can initiate the downward trend again.

MEDIUM-TERM BTC ANALYSIS

Daily BTC/USD Price Chart

Looking at the daily technical chart of Bitcoin, it made an upward movement from the support range between $25,200 and $25,600, which is considered as an important support zone, and reached a price of $26,400. BTC price recorded a gain of over 4% today.

If Bitcoin stays above the support range between $25,200 and $25,600, it can continue the upward movement towards the $27,000 level first and then towards the range between $28,300 and $28,600. For Bitcoin to sustain the upward trend, it needs to achieve daily candle closes above the $27,000 level.

However, if the BTC price fails to achieve daily candle closes above the $27,000 level, it can continue the downward movement until the support range between $25,200 and $25,600. Bitcoin investors should carefully monitor the critical support and resistance levels mentioned in the analysis.

SHORT-TERM BTC ANALYSIS

3-Hour BTC/USD Price Chart
3-Hour BTC/USD Price Chart

Looking at the 3-hour technical chart of Bitcoin, we observe that it is moving close to the $26,300 resistance. If the BTC price achieves 4-hour candle closes above $26,300 in the short time frame, it can continue the upward trend first towards $26,600 and then towards the $26,900 levels.

However, if the BTC price fails to achieve 4-hour candle closes above the $26,300 resistance, it may consider initiating the downward movement towards the $25,600 level first. If the BTC price cannot hold onto the $25,600 support, it can extend its downward movement to the support range between $25,200 and $25,400.

Bitcoin achieving candle closes above the $26,300 resistance holds great importance for sustaining the upward trend. Investors need to carefully monitor the $26,300 resistance level.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

German Government Sells 49,858 Bitcoins, Missing Out on $2.03 Billion Profit

Recent reports from Arkham Data reveal that the German...

Unlocking BTC Liquidity: Zeus Network Launches Phase One of ZEUS Token to Transform Solana’s DeFi Ecosystem

On November 23rd, COINOTAG News reported that Zeus Network...

Whale Moves 6,404 ETH to Binance Amid $21 Million Transaction – What It Means for Ethereum

According to a recent analysis by on-chain expert Embermonitor,...

MicroStrategy Leverages Bitcoin for Financial Operations, Enhancing Shareholder Value

In a recent update on November 22, Michael Saylor...

Solana (SOL) Emerges as the Next Big Thing in Crypto, According to Bitwise CEO Hunter Horsley

In a recent statement on November 22, 2023, Bitwise...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img