- 26,800$ level is an important resistance zone in Bitcoin’s 2-hour technical chart.
- If BTC closes below the 26,400$ level on a 2-hour basis, it may extend the downward movement towards the 25,800$ levels.
- In the daily price chart of Bitcoin, maintaining stability above the 26,400$ level increases the likelihood of the continuation of the upward trend.
When examining the technical chart of Bitcoin, horizontal movements below the 26,800$ level can be observed in the 2-hour time frame. On a daily basis, BTC continues to move above the 26,400$ level, indicating the potential to sustain the upward trend.
Medium-Term Bitcoin Price Analysis
Daily BTC/USD Price Chart
When examining the daily price chart of Bitcoin, it can be seen that it is moving above the important support level of 26,400$.
If the BTC price continues to close above the 26,400$ level on a daily basis, it is inclined to continue the upward movement.
However, if the Bitcoin price closes below the 26,400$ level on a daily basis, it may extend the downward movement to the 25,600$ levels.
In order for Bitcoin to sustain its upward trend, it is important to maintain stability above the 26,400$ level, and in this case, the next target could be the 27,200$ levels.
If the BTC price achieves daily closings above the 27,200$ level, the next upward target could be 28,300 dollars.
Short-Term Bitcoin Price Analysis
2-Hour BTC/USD Price Chart
When examining the 2-hour technical chart of Bitcoin, it can be seen that it continues its horizontal movements below the important resistance zone of 26,800$.
If the BTC price closes below the 26,400$ level on a 2-hour time frame, it may extend the downward movement to the 25,800$ levels first.
If the Bitcoin price cannot hold onto the 25,800$ support, it may continue the downward movement to the support range of 25,583$ – 25,222$.
However, if BTC reverses from the range of 25,583$ – 25,222$ and continues its upward movement, it can progress towards the 26,800$ level again.
However, if Bitcoin achieves 4-hour closings below the 25,222$ level, it may extend the downward movement to the 24,900$ level.
The points that need to be closely monitored in the BTC technical chart have been indicated in the analysis.
