spot_imgspot_imgspot_img

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

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin BTC’s Critical Decision: Surge to $55K or Retreat to $48K Next?

This analysis delves into Bitcoin's current market position, exploring whether its next move will be a push towards $55K or a pullback to $48K, with insights from technical and on-chain analysis.

Bitcoin Faces Potential Downturn Amid Economic Challenges, Warns Analyst

This article delves into the potential economic headwinds for Bitcoin in 2024, as analysts express concerns over inflation and growth slowdowns impacting the cryptocurrency market.

Bitcoin Set for Major Correction Post-Halving, Eyes $58,000 Peak: Analyst Michael van de Poppe Predicts

With the halving event on the horizon, Bitcoin's journey to a new peak is marked by bullish predictions and anticipated corrections, painting a volatile yet promising future for the flagship cryptocurrency.

Can Dogecoin Price Exceed $1? Massive DOGE Forecast from Renowned Analyst!

Dogecoin price experienced approximately a 2% decline in the last 24 hours: Will there be a rise by April? Analyst Martinez revealed!

Fed Agenda in the Bitcoin Market: According to Bianco, Interest Rates Won’t Be Lowered Before This Date!

What will the Federal Reserve do in its next move? According to Bianco's research, there may not be an interest rate cut before September!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
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.
spot_imgspot_imgspot_imgspot_img

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.