Is $28,000 the New Target for Bitcoin? BTC Analysis

• Bitcoin’s 2-hour price chart continues its sideways movement in an important resistance zone.
• If the BTC price achieves 2-hour candlestick closures above the $26,850 level, it may aim to sustain its upward movement towards $27,300 levels.
• When examining Bitcoin’s 4-hour price chart, it can be seen that it made an upward movement from the $26,110 level by encountering strong buyers.

When examining Bitcoin’s recent price movements, it can be seen that it continues its sideways movement in an important resistance zone and attention should be paid to 2-hour candlestick closures. Additionally, when looking at the 4-hour chart, it is observed that Bitcoin made an upward movement from the $26,110 level with strong buyers’ support.

Medium-Term Bitcoin Price Analysis

4 Hour Bitcoin/USD Price Chart Source: TradingView

When examining Bitcoin’s 4-hour price chart, it can be seen that it made an upward movement from the important support zone of $26,110 by encountering strong buyers.

If the BTC price achieves 4-hour candlestick closures above the $26,110 level mentioned in the analysis, it may show a desire to sustain its upward movement towards $27,200 levels.

Bitcoin price may have the potential to continue its upward movement towards $28,200 levels if it achieves 4-hour candlestick closures above the $27,200 level.

Short-Term Bitcoin Price Analysis

2 Hour BTC/USD Price Chart Source: TradingView

When examining Bitcoin’s 2-hour price chart, it can be seen that it continues its sideways movement in an important resistance zone.

BTC price may aim to sustain its upward movement towards the next resistance level of $27,300 if it achieves 2-hour candlestick closures above the $26,850 level mentioned in the analysis.

If the BTC price achieves candlestick closures above the $27,400 level mentioned in the analysis, it may set its upward target as $28,200.

However, if the BTC price cannot break the $26,850 level, it may expand its downward movement towards $26,300 levels.