BTC cannot escape the $ 28,000 range, does a correction come? (Bitcoin price analysis)

BTC cannot escape the $ 28,000 range, does a correction come? (Bitcoin price analysis)

The youngest upward trend from Bitcoin has stopped and the price has entered a phase of constant consolidation without a clear direction. The cryptocurrency is currently in a crucial zone, and in order to overcome the significant obstacle of the resistance level of $ 30,000, demand and purchasing power must increase.

technical analysis

of Shayan

the daily -type

Bitcoin recently reached a critical zone of $ 30,000, which has proven to be a significant level of resistance. This level has stopped Bitcoin's latest impulsive rally and led to a phase of constant PA with low volatility.

If the BTC bulls press the price over this decisive region, this could probably lead to a long-term upward trend.

The divergence between the price and the RSI indicator suggests that a short-term correction will probably take place soon. In this case, the $ 25,000 region, which corresponds to the sliding 50-day average, becomes the primary level of support for Bitcoin.

Tradingview

The 4-hour diagram

Bitcoin has formed an ascending trend line in the 4-hour time frame that has existed for several months and is currently serving as support for the price. However, the cryptocurrency is caught between the rising trend line and the price region of $ 30,000. A clear movement over or below this decisive span will possibly remove any uncertainty and determine the medium -term prospects of the price.

To summarize the latest movements, Bitcoin will probably be followed by a short -term rejection of a consolidation correction phase in the coming days.

Tradingview

on-chain analysis

of Shayan

The difficulty of Bitcoin adapts based on the behavior of the miners and the latest movements in the hash rate. Depending on the number of miners that are currently using their machines for digging, the level of difficulty is re -adapted. If there is more active miners, the difficulty adjustment makes it more difficult for you to reduce a block, which helps to ensure that the rate of block production remains relatively constant.

According to data from Cryptoquant, the recent adaptation has led to an increase in difficulty metric, which has led to a new all -time high. This indicates that more miners are ready to mine bitcoins and keep their machines going, making the network safer. Overall, this is a bullish sign of cryptocurrency.

Tradingview

.