Bitcoin rejected with critical resistance, this is the level you should now observe: BTC price analysis
Bitcoin rejected with critical resistance, this is the level you should now observe: BTC price analysis
After reaching the critical price range of $ 29,000 to $ 30,000, Bitcoin's upward movement was rejected, and the price returned to the consolidation area of $ 27,000 to $ 28,000.
In the short perspective, the $ 30,000 mark will probably serve as the greatest resistance. This span was the low, which was recorded in mid -2021 in front of the rally for the current ATH of Bitcoin at $ 69,000 in November 2021.technical analysis
of Shayan
the daily -type
After a sweater on the sliding 100-day average line formed at $ 19.6,000, the price continued to increase with a remarkable interest bully dynamic. However, Bitcoin is now facing a strong resistance at $ 30,000.
On the Bärische side, a clear divergence between the course and the RSI indicator can be seen, which could lead to a correction phase before a possible sequel.
The 4-hour diagram
If you look at the latest prize campaign of Bitcoin, you can see that the intensive interest bully momentum has subsided while a confluence between the Bitcoin bulls and bears takes place in this specific price region.
In view of the psychological strength of the price level of $ 30,000, the most likely scenario for Bitcoin is a consolidation in a static range between $ 25,000 and $ 30,000In the event of a clear break-in, the price range between the level is likely to support Bitcoin $ 24.4,000 and 61.8 ($ 23,000) of the Fibonacci retracement.
on-chain analysis
It seems that Bitcoin is currently experiencing a bullish market based on several reliable indicators. However, it is important to act with caution, since the possibility of a price correction is due to the recent quick increase.
The SOPR metric for short-term owners also supports the above when she at the same time experienced a sudden increase when Bitcoin reached the resistance zone of $ 30,000, which indicates sales pressure from short-term investors.
This price range represents a significant barrier for Bitcoin on its way upwards. An outbreak over this level could possibly remove uncertainty and lead to a massive demand for a market entry.
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