Bitcoin

Resistance

Daily

<ul> 
 <li>Bitcoin (BTC) is observed to be moving horizontally in an important support zone on its 2-hour chart.</li> 
 <li>If BTC remains above the $29,900 support, it has the potential to continue its rise towards the $30,850 levels.</li> 
 <li>If the $31,000 resistance level cannot be broken on a daily basis, BTC’s downward movement may extend towards the $28,600 levels.</li> 
</ul> 
When examining the technical analysis of Bitcoin, important support and resistance levels have been identified. While horizontal movements are observed on BTC’s 2-hour chart, staying above the $29,900 support can strengthen the expectation of an upward movement. However, if the $31,000 resistance level cannot be broken, the downward movement may become more pronounced. 
<h2 id="strong-medium-term-btc-analysis-strong">Medium-Term BTC Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoins-Critical-Support-and-Resistance-Levels-June-28-BTC-Analysis.png"></a> Daily BTC/USD Price Chart 
When examining the daily technical analysis of Bitcoin, it can be seen that it experienced a decline towards the $30,100 levels as it failed to surpass the $31,000 level. It is important for the BTC price to stay above the $29,900 support. 
If the BTC price fails to close above the $31,000 level on a daily basis, it may initiate a downward movement towards the $28,600 levels. For BTC to drop to the $28,600 level, it needs to close below the $29,600 support on a daily basis. 
On the other hand, if the BTC price manages to close above the mentioned $31,000 resistance level on a daily basis, it can continue its upward movement towards the $32,400 levels. 
According to the technical analysis of Bitcoin, the $29,900 support and $31,000 resistance are important levels. It is important to closely monitor these levels. 
<h2 id="strong-short-term-btc-analysis-strong">Short-Term BTC Analysis</h2> 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/1687968536_124_Bitcoins-Critical-Support-and-Resistance-Levels-June-28-BTC-Analysis.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134315 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1687968536_124_Bitcoins-Critical-Support-and-Resistance-Levels-June-28-BTC-Analysis.png" alt="2-Hour BTC/USD Price Chart" width="3006" height="1656"></a> 
2-Hour BTC/USD Price Chart 
When examining the 2-hour technical chart of Bitcoin, it is observed that it is making horizontal movements in an important support zone. If the BTC price remains above the mentioned $29,900 support, it has the potential to continue its upward movement towards the $30,850 levels. 
If the BTC price manages to close above the $30,850 level on a 2-hour basis, it can continue its rise towards the $31,440 levels. However, if it closes below the $29,900 support on a 2-hour basis, it may extend its downward movement towards the $29,500 levels. 
An important support zone for BTC is in the range of $29,100 – $28,800. If BTC falls into this support range and manages to stay above it, it can initiate its upward movement towards the $31,000 levels. 
According to the technical analysis of Bitcoin, the $29,900 support, $30,850 resistance, and $31,000 level are important points that need to be closely monitored. 
The post <a rel="nofollow" href="https://en.coinotag.com/bitcoins-critical-support-and-resistance-levels-june-28-btc-analysis/">Bitcoin’s Critical Support and Resistance Levels! June 28 BTC Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG EN</a>.

Bitcoin’s Critical Support and Resistance Levels! June 28 BTC Analysis

Table of Contents

CO NEWS

Other articles published on Jun 28, 2023

MicroStrategy Expands Bitcoin Holdings with $347 Million Purchase of 12,333 BTC

Fireblocks Ignites Support for Institutional Cryptocurrency Trading

Prometheum: SEC License in Hand, Business Model in Question

UK authorities unveil guidelines for crypto reform

XRP Surges 44% to Become Top 10 Gainer of the Year

Huobi Exchange Delists USDD Trading Pairs for Numerous Altcoins

Join our free newsletter for daily crypto updates!