Bitcoin Technical Analysis: How Far Will Its Rise Continue?

  • 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 Chart

Looking 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

3-Hour BTC/USD Price Chart
3-Hour BTC/USD Price Chart

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.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Whale Deposits $3.25M USDC into Hyperliquid, Shorts 3,000 ETH at 25x Leverage — Liquidation Price $5,291.9

COINOTAG News on September 3, citing LookIntoChain monitoring, reports...

CryptoQuant: Over 500,000 ETH ($2.1B) Withdrawn From Exchanges in Past Week

COINOTAG News reported on September 3 that, according to...

Ethereum Staking Reaches 35.63M ETH (29.45% of Supply) as Queued ETH Withdrawals Spike to Highest Since August

COINOTAG News (September 3) cites on-chain data from the...

CARDS Soars 630% to $0.16 as Solana’s Collector Crypt Tops $1.45B Volume and $9.65M Revenue

COINOTAG reported on September 3 that Collector Crypt, a...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img