- Bitcoin has broken the ceiling of the short-term rising trend channel, indicating a stronger upward momentum. However, positive developments could lead to short-term corrections from current levels.
- The currency is slightly above the 27,300 point resistance, signaling further upside potential. Positive volume balance indicates high volume on rising days and low volume on falling days, which strengthens the currency in the short term.
- The current price of Bitcoin today is $27,496.23 USD, with a 24-hour trading volume of $12,701,921,547 USD. Bitcoin has lost 0.24% in the last 24 hours.
Bitcoin Price Holds Above $27,100 Support: What’s the Short, Medium, and Long-Term Outlook for BTC? Current Analysis!
Short-Term BTC Analysis
Bitcoin has broken the ceiling of the short-term rising trend channel, indicating a stronger upward momentum. However, positive developments could lead to short-term corrections from current levels. At the same time, it gave a positive signal by breaking the 26,968 resistance upwards from the inverted head and shoulders formation. It signals further upside potential up to 28,631 or more. The currency finds support at the 27,100 levels and faces resistance at 29,700 levels. Volume has been high at price peaks and low at price lows. The volume balance is also positive, strengthening the trend. The currency is technically considered generally positive in the short term.
Medium-Term BTC Analysis
Bitcoin has broken the ceiling of the medium to long-term descending trend, initially indicating a slower descent. The currency moves within a rectangular formation between the 25,915 support level and the 32,161 resistance level. A clear break of one of these levels will indicate a new direction for the currency. At the same time, it gave a positive signal by breaking the 26,968 resistance upwards from the inverted head and shoulders formation. It signals further upside potential up to 28,631 or more.
The currency is slightly above the 27,300 point resistance, signaling further upside potential. Positive volume balance indicates high volume on rising days and low volume on falling days, which strengthens the currency in the short term. The currency is technically considered generally positive in the medium term.
Long-Term BTC Analysis
Bitcoin has broken the base of a long-term rising trend channel, initially indicating a slower rise or the beginning of a more horizontal development. The currency moves within a rectangular formation between the 25,600 support level and the 31,000 resistance level. A clear break of one of these levels will indicate a new direction for the currency. Positive volume balance indicates that volume is higher on rising price days than on falling price days. This reflects increasing optimism among investors. The RSI is diverging negatively from the price, indicating the risk of a downward reaction. The currency is technically considered generally slightly positive in the long term.
Bitcoin Price
Today’s Bitcoin price is $27,496.23 USD, with a 24-hour trading volume of $12,701,921,547 USD. According to the current CoinMarketCap ranking, Bitcoin is ranked 1st with a market capitalization of $536,308,136,549 USD. There are 19,504,787 BTC tokens in circulation, with a maximum supply of 21,000,000 BTC tokens.
