- Price Movement: Bitcoin is moving at the support level of $25,920 and trading at $26,010.
- Potential Upside: If the price continues to close above $25,920, it could target $27,000.
- Downside Scenario: If the support level is broken, a decline towards $25,600 and $25,200 could occur.
In the hourly chart of BTC, it is trading near the support level of $25,920. If the support level holds strong and the price closes above $25,920 on an hourly basis, the upward movement could continue towards $27,000. However, if the price falls below the support level, a decline towards $25,600 and $25,200 could be observed.
Short-Term Bitcoin Price Analysis
1 Hour BTC/USD Price ChartWhen examining the hourly technical chart of Bitcoin, buying movements towards the support level of $25,920 can be seen. Currently, the BTC price is trading at $26,010 and attempting to achieve hourly closes above the support level.
If the Bitcoin price continues to close above $25,920 on an hourly basis, it could have the potential to carry the upward trend towards $27,000. However, before reaching this target, BTC needs to achieve 4-hour closes above the $26,250 level.
If the Bitcoin price achieves hourly closes below the $25,920 support level, it could deepen the downward trend and experience a decline towards $25,600 first, and then towards the $25,200 level.
Bitcoin investors should carefully monitor the mentioned areas in the analysis and pay particular attention to the closes at support and resistance levels.
Current Bitcoin Liquidation Data
When examining the current liquidation data of Bitcoin, it can be seen that a $106 million short position will be liquidated at the $26,400 level. If the Bitcoin price rises to the $26,400 level, it is expected that the short positions at this level will be liquidated.
On the other hand, considering the liquidation data for long positions, it can be observed that an $80 million long position could be liquidated when the BTC price falls to $25,820. In this case, it is understood that there are intense liquidity areas in both directions.
The mentioned analysis indicates that after the rise of Bitcoin to the $27,000 level, it may experience a decline, increasing the possibility of clearing the liquidity. This reflects the market’s sensitivity to fluctuations and liquidity movements.
