Bitcoin Short Term Analysis! Can It Rise Again?

  • Bitcoin experienced a drop of more than 9% yesterday.
  • With the daily candle opening, Bitcoin rose back to the area where it experienced the drop.
  • What does Bitcoin’s technical chart convey to investors?

Will Bitcoin continue to rise? Where are the important support and resistance levels for Bitcoin? Current BTC analysis!

Short-Term Bitcoin Price Analysis!

Short-Term Bitcoin Price Analysis Source: TradingView

In the Bitcoin analysis we shared yesterday, we stated that Bitcoin could make its upward movement up to the area we indicated in the analysis. After rising to the area we mentioned, Bitcoin experienced a drop.

Click here to read the Bitcoin analysis we shared yesterday.

When we examine the short-term price chart of Bitcoin, it experienced a 2% drop from the important resistance range of $29,452 – $29,200 due to selling.

Before and after the announcement of the US quarterly reports, Bitcoin may make an upward movement to the resistance area it rose last night.

If there is any negative news in the US data, we may see sharp drops in the market.

If the Bitcoin price cannot make daily candle closes above the $30,500 level, the drop target will be $25,400.

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Crypto Vira
Crypto Vira
Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.

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