Will Bitcoin Continue to Fall? Current Bitcoin Analysis!

• Bitcoin experienced a 4% drop yesterday.
• Will Bitcoin be able to hold onto its critical support?
• Where are Bitcoin’s important support and resistance levels?

What is the future of Bitcoin? What can Bitcoin investors expect? Current Bitcoin analysis!

Can Bitcoin Hold Onto Its Critical Support?

4 Hour Bitcoin Price Analysis! Source: TradingView

When we examine Bitcoin’s current price chart, we see that it is making horizontal movements in the important support range of $27,790 – $28,244.

Bitcoin’s price may want to make a rise towards the $28,600 levels again if it continues to close 4-hour candles above the $27,790 level.

Bitcoin’s nearest resistance level is at $28,600. If Bitcoin’s price continues to close 4-hour candles above this level, its upward target will be $29,358.

Short-Term Bitcoin Analysis!

2 Hour Bitcoin Price Chart Source: TradingView

When we examine Bitcoin’s 2-hour price chart, we see that it is moving close to the important resistance level of $28,278.

Bitcoin’s price may continue its rise up to the fib range mentioned in the analysis if it closes 2-hour candles above this resistance level.

If Bitcoin’s price cannot close candles above the mentioned resistance level, it may want to continue its downward movement towards the $27,262 levels.

Will Bitcoin Continue to Drop? Current Bitcoin Analysis! This news was first published on CoinOtag.