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Bitcoin Price Analysis – Where Is BTC Price Heading Next?

Claudia Fischer



bitcoin price analysis

The top crypto token Bitcoin sees a continuous decline with no signs of recovery. At the moment, the value of the token is below the support level of up to $26,450. There are possibilities for the cryptocurrency to witness another slump if it moves even lower than the key support level of nearly $25,400 in the upcoming time.

Significant Facts about the BTC Price

Dipping below the support zone of $26,150 paves the way for several speculations. In addition to this, the current price of the token is lower than $26,000. Apart from that, the crypto token is trading at a level lower than its 100-hour simple moving average (SMA).

Moreover, a chief bearish trend track is developing with a resistance level of approximately $26,000 in the case of the token pair BTC/USD. As per the statistics, the pair could potentially fall if the value dips below the support zone of almost $25,400.

BTC Price Stays Low

While the price of the token struggled to remain above the resistance level of $26,500, its decline below the support zone of $26,150 has pushed it into a bearish area. Bitcoin’s recent high level was developed around $26,133 nonetheless, the present price is lower than that. The token saw a fifty percent Fib retracement spot of the uptrend from the low value of $25,400 to the high level of $26,133.

It appears that the cryptocurrency is attempting to maintain a support level of up to $25,570. The initial prominent resistance spot is near the level of $26,150. A significant price upsurge beyond the resistance of $26,150 might pave the way for a decent increase. The upcoming prominent resistance level is close to $26,500. The price of the token might reach further heights if it gets near the $26,500 level.

The next chief resistance is placed close to the $27,000 spot. Once above that level, the top crypto coin might touch the resistance of approximately $27,500. Any additional profits above the resistance zone of $27,500 might push the value of the token near the resistance level of almost $28,500.

Potential BTC Trends

As mentioned by the statistics, if the price of Bitcoin remains ineffective to move above the resistance level of approximately $26,000, the token is expected to keep on slumping to face another dip. Instant support on the token’s downside is close to the $25,570 level. The upcoming chief support is placed near the level of $25,400.

Below that level, the price could slump to the support level of $25,000 in the upcoming time. This would ignite several speculations about the further losses of the top crypto token. Some technical indicators also elaborate on the likely future development in the price of Bitcoin. The technical indicator Hourly MACD says that MACD is currently placed in the bearish area.

Additionally, the Hourly Relative Strength Index (RSI) indicates that BTC/USD token pair’s RSI is lower than level 50. Prominent support levels of Bitcoin take into account $25,570 which is followed by the level of $25,500. On the other hand, the top resistance levels include $26,000, $26,150, as well as $26,500.

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