Bitcoin Price Forecast: Will it Trigger an Upward Movement?

• According to Bitcoin’s short-term technical analysis, hourly candlestick closures above the $26,125 level support the upward movement.
• According to Bitcoin’s medium-term price analysis, the $25,400 level is identified as an important support zone.
• Bitcoin’s daily closes above the $27,300 level indicate that the uptrend could strengthen.

According to Bitcoin’s technical analysis, the $26,120 resistance level is an important point in the short-term chart, but the $25,400 level stands out as an important support in the medium-term analysis.

Medium-Term Bitcoin Price Analysis

Daily BTC/USD Price Chart

When Bitcoin’s medium-term price chart is examined, it can be seen that the $25,400 level is an important support zone.

If the BTC price continues to stay within the triangle formation mentioned in the analysis, it can realize the upward movement up to the $26,800 levels.

If Bitcoin stays above the $25,300 level and finds buyers at this level, an upward movement towards the $26,800 – $27,250 range can be observed.

If the Bitcoin price closes above the $27,300 level on a daily basis, the market trend can turn into an uptrend and upward movements can be observed in altcoins as well.

In summary, according to Bitcoin’s medium-term price analysis, the $25,400 level should be followed as an important support zone and the $26,800 level is a critical resistance point for the upward movement.

Short-Term Bitcoin Price Analysis

1 Hour BTC/USD Price Chart

When Bitcoin’s short-term technical chart is examined, it can be seen that it trades around the important resistance level of $26,120 in the hourly chart.

If the BTC price achieves hourly candlestick closures above the $26,125 level, it can sustain the upward movement up to the next resistance zone of $26,350 levels.

However, if the Bitcoin price trades below the $26,125 level and cannot overcome the resistance, it can extend the downward movement to the $25,600 – $25,400 range.

In summary, according to Bitcoin’s short-term technical analysis, the $26,120 level should be followed as an important resistance point and the $26,125 level must be surpassed for the upward movement.