Do you come next $ 30,000 or does a dump come to $ 25,000? (Bitcoin price analysis)
Do you come next $ 30,000 or does a dump come to $ 25,000? (Bitcoin price analysis)
The price of Bitcoin is between $ 25,000 and $ 30,000 and consolidates itself without a clear direction. It has to break out of this critical area to determine its future direction.
technical analysis
of Shayan
daily diagram
The price of Bitcoin has formed an ascending channel in the day and tried to exceed the upper trend line. However, the upper limit of the channel is roughly the same with the main resistance region of $ 30,000, which creates a robust barrier on the way of Bitcoin.
On the other hand, the decisive support region of $ 25,000 is matched with the sliding 50-day average and the middle limit of the canal and offers the price considerable support.
In view of all of this,The price is currently between the significant support region of $ 25,000 and the considerable resistance at $ 30,000. An outbreak from this range would potentially remove uncertainty and cause a distortion for the cryptocurrency.
Tradingview
4-hour diagram
While the price of Bitcoin in the range of $ 30,000 and $ 25,000, he tried to exceed the $ 29,000 mark three times, but every attempt failed, which led to an ascending triangle pattern. If the price falls below the lower trend line, a decline in the direction of the $ 25,000 mark is imminent.
If the price succeeds on the other hand to break out over the upper trend line, there could be an increase in the direction of the critical $ 30,000 mark and a possible outbreak. However, future price movements and an outbreak from the current range will determine the overall situation of Bitcoin in the medium term.
Tradingview
on-chain analysis
of edris
The price of Bitcoin has been increasing since the beginning of 2023 and many investors make profits again. The key figure "Netto not realized profit/loss" (Nupl), which is shown in the diagram, shows the difference between market capitalization and the realized capitalization divided by market capitalization.
on the assumption that the last movement is the result of a purchase, Nupl specifies the total amount of the profit/loss in all coins shown as a ratio. It could be interpreted as the ratio of investors who make profits. Values over 0 indicate that investors make profits and an increasing valuable trend means that more investors start to make profits.
In view of the recent upward trend at Nupl, more investors come back to the profit zone. While this could be interpreted as a signal for the beginning of a new bull market, these investors could soon begin to realize their profits, which could lead to short -term corrections due to increasing sales pressure. Tradingview
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