Bitcoin may continue to decline if it fails to hold onto critical support! June 28 BTC Analysis

• In the daily technical analysis of Bitcoin, there are downward movements due to the failure to break the resistance level of $31,000.
• The nearest support zone is at the level of $29,637, and if the BTC price closes below this level, it can extend its decline to the levels of $28,600.
• If the BTC price manages to stay above the level of $20,600, it can again rise towards the levels of $31,000.

When examining the daily technical analysis of Bitcoin, it can be seen that the resistance level of $31,000 cannot be surpassed and the downward movements continue. By closely monitoring the nearest support level and critical points of the BTC price, important information about market trends can be obtained.

Short-Term BTC Analysis

2-Hour BTC/USD Price Chart

When examining the 2-hour technical chart of Bitcoin, it can be seen that it has experienced a decline in the last 2 hours. As long as the BTC price stays above the mentioned support level of $29,900 in the analysis, it can again reach the levels of $30,850.

If the BTC price closes below the level of $29,900 for 4-hour candlesticks, it can extend its decline to the levels of $29,500. Staying above the level of $29,900 is of great importance for altcoins.

In the last 24 hours, the trading volume of Bitcoin has decreased to $14,805,671,682, resulting in a 7.47% decrease today.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart

When examining the daily technical analysis of Bitcoin, it can be seen that it has failed to break the important resistance zone of $31,000, resulting in downward movements. If the BTC price does not make daily closings above the mentioned level of $31,000 in the analysis, it can continue its decline to the levels of $28,600.

The nearest support zone for Bitcoin is at $29,637. If the BTC price closes below the level of $29,637 on a daily basis, it can extend its decline to the levels of $28,600.

However, if the BTC price manages to stay above the level of $20,600, it can again realize the upward movement towards the levels of $31,000.

According to the technical analysis of Bitcoin, the resistance of $31,000, the support level of $29,637, and the critical point of $20,600 are important levels. These levels should be closely monitored.