- 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.
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.
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.
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.
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.
