- Bitcoin, if it achieves 4-hour candle closes above the $26,300 resistance, it can continue the upward trend.
- Bitcoin, as long as it stays above the support range between $25,200 and $25,600, it can continue the upward trend.
- Bitcoin, if it fails to achieve daily candle closes above the $27,000 level, it can initiate the downward trend again.
Bitcoin, if it achieves 4-hour candle closes above the $26,300 resistance, it can continue the upward trend. However, if it falls below the support range between $25,200 and $25,600, it can initiate the downward trend again.
MEDIUM-TERM BTC ANALYSIS
Daily BTC/USD Price ChartLooking at the daily technical chart of Bitcoin, it made an upward movement from the support range between $25,200 and $25,600, which is considered as an important support zone, and reached a price of $26,400. BTC price recorded a gain of over 4% today.
If Bitcoin stays above the support range between $25,200 and $25,600, it can continue the upward movement towards the $27,000 level first and then towards the range between $28,300 and $28,600. For Bitcoin to sustain the upward trend, it needs to achieve daily candle closes above the $27,000 level.
However, if the BTC price fails to achieve daily candle closes above the $27,000 level, it can continue the downward movement until the support range between $25,200 and $25,600. Bitcoin investors should carefully monitor the critical support and resistance levels mentioned in the analysis.
SHORT-TERM BTC ANALYSIS
Looking at the 3-hour technical chart of Bitcoin, we observe that it is moving close to the $26,300 resistance. If the BTC price achieves 4-hour candle closes above $26,300 in the short time frame, it can continue the upward trend first towards $26,600 and then towards the $26,900 levels.
However, if the BTC price fails to achieve 4-hour candle closes above the $26,300 resistance, it may consider initiating the downward movement towards the $25,600 level first. If the BTC price cannot hold onto the $25,600 support, it can extend its downward movement to the support range between $25,200 and $25,400.
Bitcoin achieving candle closes above the $26,300 resistance holds great importance for sustaining the upward trend. Investors need to carefully monitor the $26,300 resistance level.
