Is Bitcoin Preparing for a New Rise? Current BTC Commentary and Analysis!

  • Bitcoin experienced more than 3% increase today.
  • Bitcoin’s Market Value is currently moving at levels of $585,740,457,280 with a 2% increase today.
  • Will Bitcoin be able to surpass the critical resistance level of $31,000?

Will Bitcoin continue to rise? Where are the critical support and resistance levels of Bitcoin? Current Bitcoin analysis!

Medium-Term Bitcoin Price Analysis!

Bitcoin Price Chart Source: TradingView

Bitcoin Price Chart Source: TradingView

When we examine the current price chart of Bitcoin, it is moving close to the important resistance level of $30,800.

If the Bitcoin price can achieve 4-hour candlestick closures above the level of $30,850 indicated in the price analysis visual, it can continue its upward movement.

With candlestick closures above the level of $30,850, the Bitcoin price can rise up to the levels of $32,000.

If the Bitcoin (BTC) price cannot achieve candlestick closures above the level of $30,850, it can repeat its downward movement up to the levels of $29,600.

When we examine the important support levels of Bitcoin, it has a critical support at the level of $29,186. As long as the Bitcoin price stays above the level of $29,186, it will want to achieve its rise up to the levels of $32,000.

Bitcoin’s Critical Support and Resistance Levels!

Strong Support Levels $29,624 – $29,186
Strong Resistance Levels $30,850 – $32,000
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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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