Bitcoin

Resistance

Daily

<ul>
<li>Bitcoin has the potential to continue its upward trend as it tests the resistance level of $26,125 for the third time.</li>
<li>Staying above the level of $25,950 could strengthen the upward movement of BTC.</li>
<li>The US Annual Inflation data is expected to affect the price of Bitcoin.</li>
</ul>
According to the short-term technical analysis of Bitcoin, the performance of the price above the resistance level of $26,125 and the preservation of the support level of $25,950 are among the determining factors for the upward trend. Additionally, the US Inflation data to be announced today may affect the price of Bitcoin.
<h2 id="strong-medium-term-btc-price-analysis-strong">Medium-Term BTC Price Analysis</h2>
<figure id="attachment_133445" class="wp-caption aligncenter" style="width: 1805px;" aria-describedby="caption-attachment-133445"><a href="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoin-Technical-Analysis-Price-Resistance-Levels-and-Upside-Potential.png"><img decoding="async" loading="lazy" class=" td-modal-image aligncenter wp-image-133445 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoin-Technical-Analysis-Price-Resistance-Levels-and-Upside-Potential.png" alt="Daily BTC/USD Price Chart" width="1805" height="857" /></a><figcaption id="caption-attachment-133445" class="wp-caption-text">Daily BTC/USD Price Chart</figcaption></figure>
When the daily technical chart of Bitcoin is examined, it can be seen that the price is trying to make an upward movement from the important support zone of $25,400.
In order to continue the upward trend in the daily time frame, the BTC price must achieve 12-hour candlestick closures above the level of $26,850.
For Bitcoin to truly start the upward trend, it needs to make daily candlestick closures above the level of $27,250.
However, if the BTC price cannot break the resistance of $27,250, it may retreat towards the range of $25,200 &#8211; $24,600 with a downward movement.
In summary, according to the daily technical analysis of Bitcoin, the support level of $25,400 should be followed as an important point, and if the price exceeds the levels of $26,850 and $27,250, the upward movement may strengthen. However, if it cannot break the resistance of $27,250, a downward movement may be expected.
<h2 id="strong-short-term-btc-price-analysis-strong">Short-Term BTC Price Analysis</h2>
<figure id="attachment_133446" class="wp-caption alignnone" style="width: 1805px;" aria-describedby="caption-attachment-133446"><a href="https://en.coinotag.com/wp-content/uploads/2023/06/1686661907_982_Bitcoin-Technical-Analysis-Price-Resistance-Levels-and-Upside-Potential.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133446 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1686661907_982_Bitcoin-Technical-Analysis-Price-Resistance-Levels-and-Upside-Potential.png" alt="1 Hour BTC/USD Price Chart" width="1805" height="857" /></a><figcaption id="caption-attachment-133446" class="wp-caption-text">1 Hour BTC/USD Price Chart</figcaption></figure>
When the short-term technical chart of Bitcoin is examined, it can be seen that the price is exhibiting a horizontal movement at the important resistance level of $26,125.
Bitcoin has the potential to continue its upward trend by breaking this resistance level for the third time.
However, if Bitcoin performs a downward movement from this level, it may fall to the levels of $25,950. If the Bitcoin price stays above the level of $25,950, it may continue the upward movement.
The US Annual Inflation data to be announced today may affect the price of Bitcoin. However, if BTC stays above the level of $25,950, it may have the desire to continue the upward trend towards the level of $26,600.
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Bitcoin Technical Analysis: Price Resistance Levels and Upside Potential

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