Bitcoin, which has lasted barely five days (B T c), can explode in no time.
BTC, which started a price decline after testing $30,250, has not been able to clearly determine its course. At the time of writing the news, the leader of the cryptocurrency, which is trading at $29,429, has been hovering in the same price zone for five days. Although it may seem as short as a day, this value indicates a serious condition. How does the chart continue for BTC, which cannot exceed $29,500, and does not stay below $29,000?
bitcoin (btc) chart analysis
BTC, which was rejected and retraced from $30,250, is now trading between $29,500 – $29,000. BTC, which has not ignored this area for a few days, could aim for $30,300 – $30,800 and $31,400, respectively, as long as it sustains above $29,700. On the other hand, a strong break of $31,400 could propel the price to near-term tops.
In the event that $29,250 fails to act as support, or a snapshot of FUD news, the price could be pushed towards the support points. Support points that can be followed in this process are $28,900 – $28,400 and $28,040 respectively. Failure to find any buyers at $28,000 will lead to a rise towards the $25,000 level in the medium term.