- Bitcoin has continued its upward trend, starting at $29,900 and reaching levels of $31,850.
- The $30,850 level stands out as an important support area, and as long as the BTC price remains above this level, it has the potential to continue its rise.
- If the BTC price can maintain daily candle closes above the $31,000 resistance, it may show a bullish movement towards the $32,400 levels.
When examining the daily technical price chart of Bitcoin, the BTC price is currently moving around $31,330 and holding above the $31,000 resistance. However, it is important to pay attention to a support area like the $30,850 level, as BTC price can continue its rise if it remains above this level.
Medium-Term BTC Analysis
Daily BTC/USD Price Chart
When examining the daily technical chart of Bitcoin, it can be seen that the bullish movement started with the XRP news. At the time of writing, the BTC price is continuing its movement around $31,330 and trading above the $31,000 resistance.
If the BTC price can achieve daily candle closes above the $31,000 resistance, it may continue its rise towards the $32,400 levels. Additionally, if BTC can maintain its sustainability by achieving daily candle closes above the $32,400 level, it is believed that it can extend its rise towards the $34,778 levels.
However, BTC needs to achieve daily candle closes above the $31,000 levels and sustain above this level. Otherwise, as mentioned in the analysis, the BTC price may initiate a downward movement from the $32,400 level and reach levels of $28,600.
Short-Term BTC Price Analysis
3-Hour BTC/USD Price Chart
When examining the short-term technical price chart of Bitcoin, it can be seen that the upward trend starting from $29,900 has continued until the $31,850 levels. As long as the BTC price remains above the mentioned support of $29,900, it will aim to continue the upward trend.
The $30,850 levels, which represent an important support area for Bitcoin, are a critical point. If the BTC price experiences a pullback to the $30,850 levels in the coming hours, investors can make strong purchases from this support area.
If the Bitcoin price encounters strong buying pressure from the $30,850 level, it can resume its upward movement and continue its rise towards $32,200.
