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price experienced a drop to the level of $25,800.
- Can Bitcoin initiate a rise movement?
- If Bitcoin breaks the level of $26,600, what is its next target?
Where are the levels that Bitcoin investors should follow? Will Bitcoin initiate a rise movement? Will the BTC price rise to $29,500? Current BTC analysis!
Medium-Term Bitcoin Price Analysis!
12 Hour Bitcoin Price Graph Source: TradingView
When we examine the 12-hour price graph of Bitcoin, it rose above the level of $26,100 again with strong purchases after the level of $25,800.
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Although many investors claim that the downward movement has ended, we present you the current graphic analysis of Bitcoin as the Coinotag analyst team.
If Bitcoin continues to have 4-hour candlestick closures above the support of $26,100 mentioned in the analysis, it can initiate the rise movement from this region.
However, if the Bitcoin price cannot make daily candlestick closures above the level of $26,600, the downward movement can continue to the levels of $25,200.
If the Bitcoin price makes daily candlestick closures above the level of $26,600, it can continue the rise movement from these levels to the levels of $28,500.
Short-Term Bitcoin Price Analysis!
15 Minute Bitcoin Price Graph Source: TradingView
When the Bitcoin price graph is examined in a short time frame, it experienced a drop to the region we mentioned in the previous Bitcoin analysis and had a rise of 2.74% from that region.
To continue the rise movement in a short time frame, the Bitcoin price needs to have 2-hour candlestick closures above the level of $26,700.
BTC price may have the possibility of realizing the downward movement again to the levels of $25,700 if it cannot have 2-hour candlestick closures above the level of $26,700.