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BTC increases to $ 25,000, while Bullen take control, here is the next destination (Bitcoin price analysis)
The price of Bitcoin exploded after a consolidation and pullback phase. It is currently testing an important level of resistance, and its reaction will probably determine the short -term future of the market. Technical analysis of: edris The daily daily time frame the price tests the resistance level of $ 25,000 after rejection and a declining sweater a few weeks ago. In view of the last day's candle, the interest bully momentum seems to be very high at the moment, and an outbreak over the $ 25,000 mark is currently the more likely scenario. In the meantime, the sliding 50-day average recently crossed the sliding 200-day average upwards, which a very interest bullish ...
BTC increases to $ 25,000, while Bullen take control, here is the next destination (Bitcoin price analysis)
The price of Bitcoin exploded after a consolidation and pullback phase. It is currently testing an important level of resistance, and its reaction will probably determine the short -term future of the market.
technical analysis
from: Edris
the daily -type
In the daily time frame, the price tests the resistance level of $ 25,000 after rejection and a declining sweater a few weeks ago. In view of the candle of the last day, the interest bully momentum seems to be very high at the moment, and an outbreak over the $ 25,000 mark is currently the more likely scenario.
In the meantime, the sliding 50-day average recently also crossed the sliding 200-day average, which is a very interest bully signal and the likelihood for a positive continuation above the level of $ 25,000 and in the direction of the area of $ 30,000 further. On the other hand, an unlikely rejection from the current area could lead to a withdrawal towards the sliding 50-day average, which is around $ 21,000 marks. Tradingview
The 4-hour diagram
on the 4-hour chart, the price rose quickly after it broke out again over the $ 22,500 mark, and strips the resistance mark of $ 25,000.
While the momentum is also very optimistic in this time frame, the RSI shows a indication of caution, since it has entered the overbought area and has values over 80 %.
As a result, retracement could be likely before the level of $ 25,000 is broken up. In the event of a deep withdrawal, the level of $ 22,500 could come into play again and keep the market. Tradingview
an-chain analysis
Bitcoin open interest
The price of Bitcoin has started to recover after weeks of consolidation. The appointment market also records an activity boost, although this could be a worrying signal.
This diagram shows the open-interest metric, which shows the number of open positions in the perpetual futures market. Higher values of the open interest would lead to a higher price volatility.
Although it is logical for futures retailers to become more active, since the price apparently recovered, investors should be careful of the latest steep increase in open interest, which could lead to a long liquidation cascade and another price crash at short notice.
Cryptoquant
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