- Bitcoin’s short-term price chart shows a volumeless reaction rally after falling to an important support area.
- Bitcoin’s ability to hold above the levels of $26,100 – $25,757 can continue the upward trend, but volumeless movements can increase the likelihood of a decline.
- If Bitcoin rises to the levels of $26,900, a stop level can be sought for short confirmations at the level of $27,350.
Bitcoin’s ability to hold above the specified levels can sustain its upward potential. However, caution should be exercised as volumeless movements can increase the risk of a decline. In addition, it is important to determine a stop level for short confirmations if Bitcoin shows a certain rise.
Medium-Term Bitcoin Price Analysis
12 Hour BTC/USD Price Chart
When Bitcoin’s medium-term price chart is examined, it is seen that it experienced a decline from the resistance level of $27,250 and fell to the level of $26,140. Currently, the BTC price is trading at levels around $26,390.
According to technical analysis, Bitcoin’s price may want to rise again to the levels of $26,850.
There are important moving average resistances for Bitcoin at the level of $27,000. If the Bitcoin price makes daily candlestick closures above the level of $27,200, it may continue its upward movement.
However, if BTC rises again to the levels of $26,850, short confirmations can be sought.
Bitcoin’s price may show a downward trend towards the levels of $25,600 unless it makes daily candlestick closures above the level of $27,200.
Short-Term Bitcoin Price Analysis
2 Hour BTC/USD Price Chart
When Bitcoin’s short-term price chart is examined, it is observed that it fell to an important support area and then experienced a volumeless reaction rally.
If the BTC price holds above the levels of $26,100 – $25,757 specified in the analysis, it can continue its upward trend. However, remaining above the support area in a volumeless manner can increase the likelihood of a decline.
If Bitcoin makes a rise to the levels of $26,900, short confirmations that will be used as a stop level can be sought at the level of $27,350.
