|Before you reading,
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experienced more than 1% increase today.
- Bitcoin was trading around $28,500 at the time of writing.
- If Bitcoin breaks the $28,600 resistance, where will its target be?
Will Bitcoin be able to break the critical resistance zone this time? Where can it fall if it fails to break the critical resistance zone? Current BTC analysis!
Short-Term Bitcoin Price Analysis!
Short-Term Bitcoin/USDT Price Chart Source: TradingView
When we examine the short-term price chart of Bitcoin, it is moving in an important resistance zone. Bitcoin’s 24-hour volume decreased by 11% to $16,011,013,875.
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When we examine the 4-hour price chart of Bitcoin, the BTC price is in the resistance zone between $28,900 and $28,600. If the BTC price makes 4-hour candlestick closes above this resistance zone, it can continue its upward movement to $30,000 levels.
If the Bitcoin (BTC) price cannot rise above the red zone mentioned in the analysis, it can start a downward movement from this zone to $25,250 levels.
If Bitcoin also encounters selling pressure from this resistance zone, the first area where it will fall and gain support is at $27,600 levels. If Bitcoin cannot hold onto the $27,600 support, it can fall to $26,400 levels.
Medium-Term Bitcoin Price Analysis!
12-Hour BTC/USDT Price Chart Source: TradingView
When we examine the price chart of Bitcoin in a 12-hour time frame, it is moving close to the resistance zone at $28,600.
If the Bitcoin price cannot make daily candlestick closes above the resistance level at $28,600, it can start the downward trend from this zone.
If Bitcoin makes daily candlestick closes above the $28,600 resistance level, it can continue its upward trend and rise to $30,200 levels.