Medium-Term Bitcoin Price Analysis! Is the Target $29,600?
BTC/USDT
$21,554,028,319.65
$88,860.00 / $86,074.72
Change: $2,785.28 (3.24%)
+0.0034%
Longs pay
Contents
- Is Bitcoin price preparing to rise to $29,600?
- Where are the important support and resistance levels of Bitcoin?
- If Bitcoin price breaks the $28,400 resistance, what will be the target for the rise?
Can Bitcoin price restart the upward movement? What will be the new target if BTC price breaks the $28,400 resistance? Current Bitcoin Price Analysis!
Medium-Term Bitcoin Price Analysis!
2 Hour Bitcoin Price Chart Source: TradingView
When we examine the medium-term price chart of Bitcoin, it continues its horizontal movement in the critical support range of $27,100 – $27,400.
Bitcoin price can start its rise from this range and reach the $28,400 levels first as long as it stays above the purple support range mentioned in the analysis.
If Bitcoin makes 4-hour candlestick closes above the $28,400 level, it will want to realize the upward movement up to the $28,900 levels.
If Bitcoin price makes 4-hour candlestick closes above the $28,900 level, the next target will be the $29,600 level mentioned in the analysis.