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’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!
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4 Hour Bitcoin Price Chart Source: TradingView
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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.