How Long Will Bitcoin Decline Last? Current BTC Analysis
MEDIUM TERM BTC ANALYSIS
12-Hour BTC/USDT Chart
12-Hour BTC/USDT Chart
When we examine Bitcoin's 12-hour support and resistance zones, it is trying to hold on to the important support range of $ 57,780 - $ 56,230. As long as the BTC price continues to close the 12-hour candle above the blue zone, the possibility of an uptrend is expected as stated in the analysis.
Potential Movements of Bitcoin
If BTC first closes daily candles above the $61,200 level in order for the movement specified in the analysis to occur, it will become more willing to rise. As long as BTC does not lose the $56,230 support, its rise to the $69,100 level is expected.
Negative Scenario and Decline Forecast
However, if BTC price closes daily candles below the $56,230 support, it may continue its downward movement until the $53,000 – $52,050 support. Therefore, for long-term investments in BTC, daily candle closes above $61,200 should be expected first.
Conclusion
When Bitcoin's medium-term situation and close support and resistance levels are analyzed, it allows us to have an idea about the general course of the cryptocurrency market. Investors should closely follow the indicated support and resistance levels and consider the recommendations of the analysis.
Not Investment Advice