Analysis of Bitcoin Price – BTC Pressured under $24,000; Is it possible to reach $26,000? » Crypto Update Daily News, Bitcoin and Latest Crypto News


The price analysis of Bitcoin displays the consolidation mode of investors. As extension of price on previous day with the sideways movement in the array of $23,400 & $24,000. The great cryptocurrency which is through market cap is well trading with the neutral to the quite mildly bias of being bullish bias.

Bitcoin price trades high with uncertain gains

The creation of the two-consecutive candlesticks recommends some kind of the indecision among various traders. The strong resistance also plays around the level zone of $24,200 & $24,400. While writing, BTC/USD that reads at the level of $23,899.05, up with almost 0.47% for this day. The cost is also now consolidating below mark of $24,000 however the downside is also perfectly capped close to $23,700. When the price simply manages to hold the session more than high of $23,978 additional upside and may also be seen in Bitcoin.

BTC stays steady close to high level

On daily chart, price of Bitcoin shows that price is now trading in the formation of rising wedge. The rising wedge is basically quite much bearish with the technical pattern. On the other hand, the price is also much comfortable and it sits above crucial 20-day & 50-day of EMA’s signifying the bullish sentiment.

Great support is also placed at $23,400, where price manages and hold for last 24 hours. Recently, Bitcoin bull’s attempts to simply rally back at the level of $24,400. On the other hand, daily close level which is above the given level will also simply pave the way for psychological level of $26,000 level. It coincides with upper side of the trendline of wedge creation. Any kind of the uptick in indicators will strengthen the bullish breakout out related to latest consolidation.

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