- Bitcoin has broken the ceiling of the short-term downtrend, indicating a slower initial descent. An inverted head and shoulders formation is developing.
- The currency is moving within a rectangular formation between support at 25,876 and resistance at 32,120. A definite breach of either of these levels will indicate a new direction for the currency.
- Today’s live Bitcoin price is $26,992, with a trading volume of $5,961,378,441 in the last 24 hours. Bitcoin has gained 0.40% in the last 24 hours.
Bitcoin price is trying to hold above the critical level of $27,000: BTC needs to break this resistance to continue its upward movement!
Short-Term BTC Analysis
Bitcoin has broken the ceiling of the short-term downtrend, indicating a slower initial descent. An inverted head and shoulders formation is developing. A definite break above the 26,968 resistance, preferably with an increase in volume, suggests further upward movement. The currency is testing resistance at 27,100, which may trigger a negative reaction, but moving above 27,100 points would be a positive signal.
Volume was high at previous price peaks and low at price troughs in previous periods. The volume balance is also positive, which strengthens the currency. In the short term, BTC is generally considered neutral from a technical perspective.
Medium-Term BTC Analysis
Bitcoin has broken the ceiling of the medium-term downtrend channel. This initially indicates a slower descent rate or the beginning of a more horizontal development. The currency is moving within a rectangular formation between support at 25,876 and resistance at 32,120. A definite breach of either of these levels will indicate a new direction for the currency.
The currency is currently between support at 26,000 points and resistance at 27,300 points. A clear breach of one of these levels would predict a new direction. Positive volume balance strengthens the currency in the short term. In the medium term, BTC is generally considered neutral from a technical perspective.
Long-Term BTC Analysis
Bitcoin has broken the base of the long-term rising trend channel, initially indicating a slower rate of upward movement. The currency is moving within a rectangular formation between support at 25,876 and resistance at 32,120. A definite breach of either of these levels will indicate a new direction for the currency. The currency is currently between support at 25,600 points and resistance at 31,000 points. A clear breach of one of these levels would predict a new direction.
Positive volume balance indicates that the volume was high on rising price days and low on falling price days, strengthening the currency. RSI is negatively diverging, indicating a possibility of a downward reaction in price. In the long term, BTC is generally considered slightly positive from a technical perspective.
Bitcoin Price
Today’s live Bitcoin price is $26,992, with a trading volume of $5,961,378,441 in the last 24 hours. Bitcoin has gained 0.40% in the last 24 hours. According to the current CoinMarketCap ranking, Bitcoin is ranked 1st with a market capitalization of $526,389,407,525. There are 19,500,150 BTC tokens in circulation, and the maximum supply is 21,000,000 BTC tokens.
