Bitcoin Could Start Its Rise from This Critical Zone! July 25 BTC Analysis

  • Bitcoin (BTC) is exhibiting horizontal movements at the support levels of $28,990 – $28,700 on the 3-hour chart, and holding strong above $28,700 could be the beginning of an uptrend.
  • If BTC encounters strong buying pressure from the $28,990 – $28,700 support, it could target levels around $32,200; while closes above $32,000 could potentially lead to a rise towards $33,000.
  • However, closes below the $28,700 level on a 3-hour basis could extend the decline to the support range of $28,234 – $27,800.

In the short-term technical chart of Bitcoin, the support level of $28,990 – $28,700 stands out as a critical level. Movements above this level could indicate an uptrend, while closes below it could support the downward trend.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart
Daily BTC/USD Price Chart

When examining the daily technical chart of Bitcoin, it can be seen that the price continues to move below the important resistance zone of $29,500. Unless BTC can achieve daily candle closes above the $29,500 level, it could extend the downtrend to the support range of $28,600 – $28,200.

However, if Bitcoin encounters strong buying reactions from the support range of $28,600 – $28,200, it could initiate an upward movement starting from this support zone towards the $32,000 levels.

If BTC fails to initiate its rise with strong buying reactions from the $28,600 – $28,200 support range and closes daily candles below the $28,200 level, there is a possibility of continuing the downward movement towards the support zone at $27,400 as mentioned in the analysis. Therefore, preserving the $28,600 – $28,200 support zone is of great importance for investors.

Short-Term BTC Price Analysis

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

When examining the 3-hour technical price chart of Bitcoin, it can be seen that the BTC price is currently continuing its horizontal movements at the support of $28,990 – $28,700. As long as Bitcoin continues to hold above the $28,700 level, there is a possibility of initiating its rise from this support level.

If Bitcoin encounters strong buying pressure from the $28,990 – $28,700 support and starts its rise from this region, the next target could be around $32,200. If the BTC price achieves 4-hour candle closes above the $32,000 level, it could potentially continue its rise towards $33,000.

However, if the Bitcoin price closes 3-hour candles below the $28,700 level, it could extend the downward movement to the support range of $28,234 – $27,800 as mentioned in the analysis.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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