TL; DR faultBitcoin price analysis shows a bullish trendJoin us, official account: Chen is bad, not badBTC/USD slight pullback todayBitcoin is attempting to retest the resistance level of $27128After a long-term bearish bear market, Bitcoin price analysis is a bullish trend. After reaching an intraday high of $27128, BTC/USD experienced a downward correction today, which is a strong resistance level
TL; DR fault
- Bitcoin price analysis shows a bullish trend
- Join us, official account: Chen is bad, not bad
- BTC/USD slight pullback today
- Bitcoin is attempting to retest the resistance level of $27128
After a long-term bearish bear market, Bitcoin price analysis is a bullish trend. After reaching an intraday high of $27128, BTC/USD experienced a downward correction today, which is a strong resistance level. Bulls are now trying to return to this level and push up prices.
After rebounding from the support level of $26415, the current trading price of the currency is $26909. BTC has increased by 1.15% in the past few hours, and it is expected that prices will continue to rise in the near future. In the past few hours, bulls and bears have been engaged in a tug of war, but bulls seem to be winning. The market value of this token is also increasing, currently at $521 billion, soaring by 1.27% in the past 24 hours. However, transaction volume remains low, with only $13 billion worth of transactions occurring in the past 24 hours.
Bitcoin price analysis within daily time frame: Despite selling, bulls still hold their ground
The daily chart of Bitcoin price analysis shows a strong upward trend, and as bulls continue to rebound, prices are expected to rise further in the coming hours. The purchase volume is, and if buyers continue to remain strong, the trend is expected to further expand, exceeding $28000. On the downside, the support level of $26415 has proven to be strong, and any further selling within this range may be restricted.
On the daily chart, technical indicators are also beneficial for bulls. The 50 day moving average is above the 200 day moving average, which is a bullish signal indicating that BTC prices may continue to rise in the coming days. In addition, the Relative strength index (RSI) hovers at a very healthy level of 40.82, indicating that there is still room for further growth. The MACD is also in the positive zone, as the signal line trades above the MACD line, which is another bullish signal.
Bitcoin 4-Hour Chart Price Analysis: BTC Narrow Range Volatility
The Bitcoin price analysis on the 4-hour chart shows that BTC trades within a narrow range. Due to price fluctuations ranging from $26415 to $27128, the volatility is quite moderate. In the past few hours, bearish sentiment has been favorable; However, the bulls have successfully held their ground and are now in a strong position to push prices above $27000.
Although there was a slight pullback in the past few days, the overall technical indicators still show strong bullish signals, indicating that there is still significant upside potential for BTC/USD in the short term. The buyer keeps the BTC price above 20 simple moving averages. But if cryptocurrencies fall below the short-term bullish trend line, buyers may soon lose this level. For the short-term outlook, below 20SMA, prices may once again fall to annual lows. However, the RSI indicator is slowly rising above the oversold area. The MACD indicator is also in a positive region, with the signal line above the MACD line at -64.04, indicating that bulls have controlled the market.
Conclusion of Bitcoin Price Analysis
Overall, Bitcoin price analysis shows a very promising trend, and investors can expect to see further upward trends in the coming days. If the bulls successfully break through the $27000 level, then BTC/USD may soon reach a new high. The key levels to note are $26415 and $27128. If prices fall below these levels, bearish momentum may once again dominate.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
