Can Bitcoin Criticism Trigger a Decline in Support? Current BTC Analysis

  • The 12-hour price chart of Bitcoin shows horizontal movements in the range of $26,400 – $25,700.
  • The BTC price is making low-volume horizontal movements in the support zone and may be susceptible to sharp price movements.
  • The downward movement of BTC may continue towards the support zone of $25,200 – $24,600 as long as it does not close above the level of $27,300 on a daily basis.

When examining the 12-hour price chart of Bitcoin, it can be seen that BTC continues its horizontal movement and makes low-volume transactions in the support zone. This indicates that Bitcoin may show sharp price movements in the future. 

Medium-Term Bitcoin Price Analysis

12 Hour BTC/USD Price Chart

12 Hour BTC/USD Price Chart

When examining the 12-hour price chart of Bitcoin, it can be seen that BTC is making a horizontal movement in the range of $26,400 – $25,700.

The BTC price is making low-volume horizontal movements in the support zone. This means that Bitcoin may be exposed to sharp price movements.

Looking at the medium-term price chart, BTC may continue its downward movement towards the significant support zone of $25,200 – $24,600 as long as it does not close above the level of $27,300 on a daily basis.

However, if the BTC price encounters strong buying pressure from the range of $25,200 – $24,600, it may start an upward movement from this zone and move towards the level of $28,000.

Short-Term BTC Price Analysis

1 Hour BTC/USD Price Chart

1 Hour BTC/USD Price Chart

When examining the hourly price chart of Bitcoin, it can be seen that BTC is moving close to the hourly resistance zone. If it closes above the level of $26,200 mentioned in the analysis, Bitcoin has the potential to continue its upward movement.

If BTC closes above the level of $26,200 on an hourly time frame, its next target will be the level of $26,400.

However, if Bitcoin price cannot overcome the resistance of $26,200, it may expand its downward movement to the level of $25,550.

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Crypto Vira
Crypto Virahttps://coinotag.com/
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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