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Medium-Term Bitcoin Price Analysis! Is the Target $29,600?

Analysis
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  • 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?
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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

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.

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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.

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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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