Bitcoin Price Analysis! Could a Decline be Coming?

 

  • Bitcoin’s short-term price chart continues its sideways movement.
  • The level of 26,480 dollars represents a strong support area and a rise may be possible when buyer reaction is taken.
  • Bitcoin’s price making daily candlestick closures above the level of 27,200 dollars can strengthen the expectation of a rise by canceling the scenario of a decline.

When examining Bitcoin’s short-term price chart, it is observed that the sideways movement continues and emphasis is placed on the importance of certain levels. It is especially seen that the level of 26,480 dollars is a strong support area and daily candlestick closures above the level of 27,200 dollars support the expectation of a rise.

Short-Term Bitcoin Price Analysis!

4 Hour Bitcoin Price Chart Source: TradingView

When examining Bitcoin’s short-term price chart, it is observed that a sideways movement continues. The level of 26,480 dollars mentioned in the analysis represents a support area where strong buyers are present. If the Bitcoin price receives a buyer reaction from this level, it can realize a rise and the target can be considered as the level of 28,200 dollars.

However, if the Bitcoin price does not make daily candlestick closures above the level of 27,200 dollars, the mentioned decline target in the analysis will be valid and the level of 26,480 dollars will be seen as an important support point for Bitcoin.

Bitcoin price can continue the decline movement up to the levels of 25,800 dollars if it cannot hold above the level of 26,400 dollars.

As a result, we need to see daily candlestick closures above the level of 27,200 dollars for Bitcoin to start a rise movement.

BREAKING NEWS

BNB Whale Turns 4 BNB into $2.15M Profit in 40 Minutes Trading BNBHolder — LookIntoChain

COINOTAG News reported on October 9, citing on‑chain analytics...

Edge&Node and Coinbase Pilot Stablecoin Delegated Payments for The Graph to Enable Sub-Cent Microtransactions

Edge&Node, the core development team for The Graph, is...

Binance Japan Signs 40% Stake Deal with PayPay to Enable Crypto Purchases via PayPay Money

Binance Japan and PayPay have executed a capital and...

Nasdaq-Listed DevvStream Reveals $2.72M Solana (SOL) Treasury After Buying and Staking 12,110.98 SOL

Nasdaq-listed DevvStream disclosed its digital asset treasury, reporting holdings...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img