- Bitcoin, encountering strong buying demand at the level of $26,300 in recent times, rose to $26,600 and $27,000 levels.
- If the BTC price makes 4-hour candlestick closures above $27,000, it may aim to continue the upward trend.
- The nearest resistance zone is at $27,800 and $28,000 levels, where the previous $25,000 drop started.
Bitcoin continues its recent upward trend. Daily closures above $27,000 can further strengthen the upward trend and lead to the resistance zone between $28,300 and $28,600.
MEDIUM-TERM BTC ANALYSIS
Daily BTC/USD Price ChartBitcoin’s daily technical chart continues the upward trend as mentioned in the previous analysis. As long as the BTC price continues to stay above the blue support range, it can carry the upward movement to the resistance range of $28,300 to $28,600.
At the time of writing, the BTC price is trading above the $27,000 resistance. If the BTC price makes daily candlestick closures above the $27,000 level, it may intend to continue the upward trend. However, it is important to establish stability with daily candlestick closures above $28,300 to further strengthen this upward trend. Investors should closely monitor these levels.
If Bitcoin manages to surpass the mentioned $28,600 resistance in the analysis, the next target will be the $30,200 level.
SHORT-TERM BTC ANALYSIS
When examining Bitcoin’s 3-hour technical chart, it is observed that it rose to $26,600 and $27,000 levels by encountering strong buying demand at the $26,300 level, as mentioned in previous analyses.
If the BTC price makes 4-hour candlestick closures above the $27,000 level, it may want to continue the upward trend. The nearest resistance zone for Bitcoin is at $27,800 and $28,000 levels, where the previous $25,000 drop started.
If the BTC price performs price movements above $28,000, it can sustain its upward movement towards the $28,600 levels. It is important for investors to closely monitor these levels.
What is Bitcoin’s Upside Target? Will It Rise to $32,000? September 18 BTC Analysis news was first published on CoinOtag.
