While Bitcoin and other cryptocurrencies continue to show volatile movements, the price of bitcoin is showing an increase in price over the course of the day. In this article, we examined the important support and resistance levels of Bitcoin.
BTC/USDT 12 Hours Chart - MID TERM
If we examine the Bitcoin chart in the 12-hour time frame, we can see that Bitcoin sold from the resistance region of 17,300$ - 17,500$ and continued its decline to the 17,130$ region. If Bitcoin closes above the 17,500$ resistance region with a 4-hour candle, it can continue its upward movement.
However, if Bitcoin closes above the 17,500$ resistance region with a 4-hour candle, it can continue its upward movement.
SHORT TERM Bitcoin Analysis - 4 Hours Chart
When we examine the Bitcoin chart in the short time frame, we see that it is again in an upward movement towards the important resistance region. If Bitcoin fails to make a candle closing above the mentioned resistance region (red block), it can continue its downward movement to the green region mentioned in the analysis above.
If the Bitcoin price drops to the green region mentioned in the analysis, long confirmations can be sought from the green region. If Bitcoin continues to stay above the 17,000$ region, it can be thought that it will start to rise again from this region and start an upward movement towards the price target of 18,300$. NFA.
