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After experiencing a 4% increase today, Bitcoin saw a drop of over 5% in altcoins. Will the Bitcoin price continue to fall? How will this affect altcoins? We bring you the latest Bitcoin analysis.
What Can Bitcoin Investors Expect? Medium-Term Price Analysis!
BTC/USD Daily Price Chart Source: TradingView
When we examine the current price analysis of Bitcoin, we see that it experienced a drop to support levels of $26,600 after encountering sales from the important resistance zone of $28,600.
If we share the important support and resistance zones of Bitcoin with you, Bitcoin’s nearest resistance zone is at $28,600. If the Bitcoin price cannot break this resistance zone, it may experience a drop to $26,600.
Bitcoin’s most important support zone is at $26,600. As long as the Bitcoin price continues to close daily candles above this level, it will want to continue the uptrend.
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If the Bitcoin price closes daily candles below the $26,600 level, it may experience a drop to the resistance zone (now support) it broke to start the uptrend, which is at $25,250.
Many investors are waiting for Bitcoin to start the uptrend again after dropping to $25,250.
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Short-Term Bitcoin Price Prediction: What Should We Expect?
BTC/USDT 2 Hour Price Chart Source: TradingView
When we examine the short-term price chart of Bitcoin, we see that it closed candles below the important support zone, which is also the fib support level of $27,730.
Bitcoin may want to make an uptrend movement back to the support level it broke at $27,730.
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If it cannot close 2H candles above this price zone, it may continue to drop to the lower support of the horizontal trend at $26,600.
