Will Bitcoin be able to break the critical resistance zone this time? Where can it fall if it fails to break the critical resistance zone? Current BTC analysis!
CoinOtag, April 5 - Will Bitcoin be able to break the critical resistance zone this time? Where can it fall if it fails to break the critical resistance zone? Current BTC analysis!
Short-Term Bitcoin Price Analysis!
Short-Term Bitcoin/USDT Price Chart Source: TradingView
When we examine the short-term price chart of Bitcoin, it is moving in an important resistance zone. Bitcoin’s 24-hour volume decreased by 11% to $16,011,013,875.
When we examine the 4-hour price chart of Bitcoin, the BTC price is in the resistance zone between $28,900 and $28,600. If the BTC price makes 4-hour candlestick closes above this resistance zone, it can continue its upward movement to $30,000 levels.
If the Bitcoin (BTC) price cannot rise above the red zone mentioned in the analysis, it can start a downward movement from this zone to $25,250 levels.
If Bitcoin also encounters selling pressure from this resistance zone, the first area where it will fall and gain support is at $27,600 levels. If Bitcoin cannot hold onto the $27,600 support, it can fall to $26,400 levels.
Medium-Term Bitcoin Price Analysis!
12-Hour BTC/USDT Price Chart Source: TradingView
When we examine the price chart of Bitcoin in a 12-hour time frame, it is moving close to the resistance zone at $28,600.
If the Bitcoin price cannot make daily candlestick closes above the resistance level at $28,600, it can start the downward trend from this zone.
If Bitcoin makes daily candlestick closes above the $28,600 resistance level, it can continue its upward trend and rise to $30,200 levels.