Bitcoin Price Forecast: Will it Trigger a Rise to $28,000?

  • Bitcoin aims to continue its rise by closing daily above the support level of $25,800.
  • If the price surpasses the resistance level of $27,000, it may bring the target of $28,300 into focus.
  • However, if it fails to break the resistance level of $27,000, there is a risk of the price retracing back to the support level of $25,800.

According to the daily technical analysis of Bitcoin, it finds support above $25,800 and carries potential for an upward movement. The resistance level of $27,000 stands out as an important level.

Medium-Term BTC Analysis

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

When examining the daily technical analysis of Bitcoin, it can be observed that price movements above the support level of $25,800 continue. Although the BTC price fell below the $25,800 support in the past week, it managed to close daily candles above this important level. This situation increases the potential for Bitcoin to rise towards the level of $27,000.

If the BTC price continues to close daily above $25,800, it may aim to reach the mentioned level of $26,942. If the BTC price closes daily above $27,000, the next target for an upward movement will be the level of $28,300.

However, the closures above the level of $27,000 are of great importance for Bitcoin. If this level cannot be surpassed, the price may retrace back to the support level of $25,800 to test it.

Short-Term BTC Analysis

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

When examining the short-term technical analysis of Bitcoin, it can be observed that the BTC price is making efforts to hold above the support range of $25,800 – $25,900. As long as the BTC price closes daily above $25,800, it may intend to move up to the mentioned yellow zone.

However, if it encounters strong selling pressure from the yellow resistance zone, it may have the potential to extend its decline to $25,800 and then to $25,600 levels. However, if Bitcoin achieves daily closures above $26,250, it may set the next target for an upward movement at $26,600.

If BTC surpasses the $26,600 resistance level, the level of $27,000 can be considered as an important target. It is recommended for investors to carefully monitor the mentioned levels and determine their strategies based on price movements.

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 Roller Coaster: Plunge and Surge Amid Halving Event and Market Volatility

Explore the dramatic shifts in Bitcoin's price as it navigates through halving aftermath and potential market recoveries.

Exploring Blockchain’s Future: Insights from Gateio’s VC & Web3 Ecosystem Party at TOKEN2049

Join industry leaders from Gate.io and Huawei Cloud as they delve into the future of blockchain and Web3 technologies, following a successful gathering at TOKEN2049 in Dubai.

Bitcoin BTC’s Post-Halving Era Begins: Dominance Stabilizes as Altcoins Rally

Explore the evolving dynamics of the cryptocurrency market following Bitcoin's latest halving, which could set the stage for altcoin success.

Bitcoin Fees Skyrocket, Surpassing Ethereum – Could Ordinals Boost BTC Security?

Discover how Bitcoin fees have soared, the role of Ordinals in this trend, and the potential implications for Bitcoin's security model.

Bitcoin Halving Sparks Market Volatility: Demand Surge Meets Miner Challenges

Discover the key factors driving Bitcoin's trajectory after the halving. Get expert insights into the potential for a supply shock, the role of ETFs, and the challenges faced by miners.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Litecoin Could Be Preparing for a 20% Rise! Current LTC Analysis

Will Litecoin continue its upward trend? What should LTC investors expect? What are the targets in the current LTC analysis?

Ethereum Might Be Preparing for a Rise! Current ETH Analysis

Ethereum's daily chart has sustained a rise up to $3100 after strong buying in the $2867 - $2950 range. Current ETH Analysis

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.

Bitcoin (BTC) Surges Past $70k: Could a Rally to $75k be Next?

Get expert analysis on Bitcoin's breakout above $70,000. Discover what's driving the price action, key levels to watch, and potential scenarios for BTC's near-term future.
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

Bitcoin BTC’s Roller Coaster: Plunge and Surge Amid Halving Event and Market Volatility

Explore the dramatic shifts in Bitcoin's price as it navigates through halving aftermath and potential market recoveries.

Bitcoin BTC’s Post-Halving Era Begins: Dominance Stabilizes as Altcoins Rally

Explore the evolving dynamics of the cryptocurrency market following Bitcoin's latest halving, which could set the stage for altcoin success.

Bitcoin Fees Skyrocket, Surpassing Ethereum – Could Ordinals Boost BTC Security?

Discover how Bitcoin fees have soared, the role of Ordinals in this trend, and the potential implications for Bitcoin's security model.