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What to Expect for Bitcoin Price in the Coming Days? Current BTC Analysis

  • Bitcoin is moving above $24,585 on the daily chart. As long as it stays above this level, there is potential for an upward movement towards the $28,057 – $28,640 range.
  • If Bitcoin closes below $24,585 on a daily basis, a decline could occur towards the $22,656 – $22,172 range.
  • The potential effects of Bitcoin’s movement above $24,585 and its closings below this level were examined on the daily chart. Similarly, movements that may occur were examined on the 30-minute chart as long as it holds above $24,585.

Will the upward movements in Bitcoin continue? BTC, which is currently trading at $26,350, can it reach $28,000? We have provided information on the critical levels that Bitcoin investors should follow in our article.

Bitcoin Price Prediction on 1 Day Binance Chart

Daily BTC/USD Price Chart
Daily BTC/USD Price Chart, Thanks to Roxsy!

When examining Bitcoin’s daily technical chart, we can see that it has broken its daily uptrend. It is observed that it is trying to hold on to the important support in the $25,161 – $24,773 price range. If the BTC price closes above $24,585 on a daily basis, the first target is the $28,057 – $28,640 price range.

However, if the Bitcoin price closes below $24,585 on a daily basis, it could decline to the $22,656 – $22,172 price range. It is important for the price to make movements above $24,585 in order to resume its upward trend.

For Bitcoin to continue its upward movement, it needs to close above $28,640 on a daily basis. If the BTC price achieves daily closings above $28,640, it can make the next upward movement towards $32,000.

How Can Bitcoin Move in the Short Term?

30-Minute BTC/USD Price Chart
30-Minute BTC/USD Price Chart

When examining Bitcoin’s 30-minute technical analysis, we observe that the price will continue its upward movement as long as it stays above $24,585. As long as Bitcoin trades above $24,585, it will continue to test the resistance zone in the $26,800 – $27,000 range.

If we see candlestick closings above the resistance zone, the first target will be in the $28,233 – $28,497 price range. If it cannot close above the resistance zone, we are likely to see a decline to the $25,710 – $25,560 price range.

Current Bitcoin Liquidation Data

Bitcoin Liquidation Data Source: Coinglass
Bitcoin Liquidation Data Source: Coinglass

When examining the 7-day BTC liquidation data, we can see a total accumulation of $838 million liquidations up to the $24,546 level. However, if the BTC price rises to the $27,000 level, $316 million in short position liquidations will occur. The liquidation data, which supports our daily analysis, provides important levels for Bitcoin.

In the last 24 hours, we can observe a total of $33.28 million liquidations in Bitcoin. The liquidations consist of $8.17 million in long positions and $25.11 million in short positions.

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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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