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- When examining the hourly price chart of Bitcoin, it can be seen that the $27,465 level stands out as a resistance zone.
- If the BTC price cannot break through the specified resistance zone, it may move towards the $26,850 levels that we are targeting for a downward movement.
- If Bitcoin manages to break through the resistance zone and stay above it, it can continue its rise to the $29,500 levels that we are targeting.
When examining the hourly price chart of Bitcoin, it can be seen that there is a certain resistance zone. Hourly candlestick closures above the $27,465 level specified in the analysis may be an important turning point for BTC. If this level is not exceeded, the downward trend may increase.
Medium-Term Bitcoin Price Analysis!
6 Hour Bitcoin Price Chart Source: TradingView
When examining the medium-term price chart of Bitcoin, it can be seen that the $27,150 level is an important resistance zone and Bitcoin is moving above this level.
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As we mentioned in our previous analysis, the Bitcoin price has experienced a 2.50% increase by surpassing the $27,150 level. This shows that it is in line with the movements we determined in our previous analysis.
Click Here to Read Our Previous Bitcoin Analysis.
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If the Bitcoin price continues to close candles above the $27,150 level, it can continue its rise to the $28,200 levels that we are targeting.
However, if the BTC price falls back below the $27,150 levels and closes candles for 4 hours, it may continue its downward trend and fall to the $26,800 levels.
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Short-Term Bitcoin Price Analysis!
Hourly Bitcoin Price Chart Source: TradingView
When examining the hourly price chart of Bitcoin, it can be seen that there is a certain resistance zone. The hourly resistance zone specified in the analysis is the $27,465 level, and if Bitcoin cannot close hourly candles above this level, there is a possibility of a downward movement.
If the Bitcoin price cannot break the specified resistance zone, it may realize the downward movement that we are targeting towards the $26,850 levels.
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However, if the Bitcoin price manages to break through the resistance zone and stay above it, it can continue its rise to the $29,500 levels that we are targeting.
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