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Bitcoin Price Forecast: Will it Start Rising to $28,000?

  • Bitcoin is moving above the support range of 25,900 – 25,800 dollars on the 2-hour chart.
  • The upward trend may continue up to the resistance level of 26,250 dollars, but if it cannot surpass this level, the downward trend may strengthen.
  • Closing above 25,800 dollars on the daily chart may maintain the upward trend, but closing below this level may support the downward trend.

BTC is moving above the support range of 25,900 – 25,800 dollars on the 2-hour technical chart. It carries the potential for an upward movement with the closings above this range, and the price may rise up to the resistance level of 26,250 dollars. However, if it cannot surpass 26,250 dollars, it may continue the downward trend and drop to the support range below 25,800 dollars.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart
Daily BTC/USD Price Chart

When examining the daily technical chart of Bitcoin, it can be seen that price movements continue above the level of 25,800 dollars. As long as BTC price achieves daily candlestick closings above 25,800 dollars, it may aim to move towards the levels of 26,930 dollars initially.

If Bitcoin price achieves daily closings above the level of 27,000 dollars, it may target the resistance range of 28,300 dollars to 28,600 dollars, which is mentioned as the next upward target. However, for it to reach this resistance range, BTC needs to achieve daily closings above 27,000 dollars and also maintain the support level of 25,800 dollars.

However, if Bitcoin price achieves daily closings below 25,800 dollars, the projected targets may become invalid. If it falls below 25,800 dollars, it may continue the downward trend towards the support range of 25,000 dollars and 24,600 dollars.

Short-Term BTC Analysis

2-Hour BTC/USD Price Chart
2-Hour BTC/USD Price Chart

When examining the 2-hour technical chart of Bitcoin, it can be observed that the price is moving above the support range of 25,900 dollars to 25,800 dollars. As long as BTC price continues the 2-hour closings above this support range, it may maintain the upward trend and potentially reach the yellow resistance zone of 26,250 dollars and then up to 26,600 dollars.

However, if Bitcoin cannot achieve 2-hour closings above the level of 26,250 dollars, it may prefer to continue the downward trend. As long as BTC price remains below 26,250 dollars, it may extend the downward movement to 25,800 dollars and 25,600 dollars.

If Bitcoin achieves 2-hour closings below 25,600 dollars, the downward target may be observed as 25,200 dollars.

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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.
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