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Can Bitcoin Rise to $29,000? Current BTC Analysis by a Professional Trader!

  • Bitcoin has started its upward movement with strong buying support and continues to hold above the $26,400 level.
  • For BTC to reach the $28,800 level, it needs to maintain the $26,400 support and achieve candle closes above the $27,600 level.
  • The gray area mentioned in the previous analysis has been identified as an important support area where Bitcoin rose to the $27,200 levels with strong buying support.

In the current technical analysis of Bitcoin, a picture emerges of a rising trend supported by strong buying and trying to maintain the established levels. Maintaining the level of $26,400 and surpassing the $27,600 level is particularly important for Bitcoin to move towards its resistance points.

Medium-Term Bitcoin Price Analysis!

4 Hour BTC/USD Price Chart

4 Hour BTC/USD Price Chart

When the current technical analysis of Bitcoin is examined, it is observed that it has risen to the $27,200 levels with strong buying support from the gray area mentioned in the previous analysis.

Click Here to See Our Previous Bitcoin Analysis.

As long as the Bitcoin price holds above the gray area mentioned in the analysis ($26,348), it can continue its upward trend towards the $28,950 levels.

However, BTC needs to stay above the support area mentioned in the analysis to achieve its $28,950 target.

Bitcoin must make candle closes above the $28,200 level on an hourly time frame to move towards the $28,950 level.

Short-Term Bitcoin Analysis!

2 Hour BTC/USD Price Chart

2 Hour BTC/USD Price Chart

When the short-term price chart of Bitcoin is examined, it is observed that the upward movement started from an important support area with strong buying support.

BTC price can continue its upward trend towards the $28,800 levels as long as it holds above the $26,400 level.

For Bitcoin to reach the $28,800 level, it must maintain the $26,400 support and achieve candle closes above the $27,600 level on a 2-hour time frame.

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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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