According to the shahrebours,The Stock Exchange Analytical News Agency, in collaboration with analysts, has conducted a review of Bitcoin’s technical analysis.
The technical analysis of this currency is not a buy or sell signal and is solely intended to inform the audience about the status of this digital currency.
Bitcoin Technical Analysis
As is clear from the price movement, higher peaks have been created on the chart, indicating a complete upward trend. However, currently, considering the latest spike in the market, we see signs of weakness in the trend. Where the price does not have much power to make a decision and is hesitant to continue the upward path.
First scenario: According to the blue circles shown in the chart, if the price shows its ability to rise, another movement driver will be expected and the Bitcoin price can target numbers such as $34,000.
Second scenario: The upward trend in Bitcoin ends and by creating a base in this area and breaking it downward, orders will be activated in the $29,000 area, which will also be available if the numbers stabilize at $26,000.
Note: The levels are calculated based on calculations in Bitcoin, which will be a good guide to market movement views, so close to the supply and demand limits of Bitcoin can create opposite behavior with existing confirmations.
