Bitcoin continues its horizontal course between the band of 19-20 thousand dollars for a long time. How many dollars in bitcoin? What are the price levels in Bitcoin? What are the levels and situations waiting for us in Bitcoin? Let’s find the answer together in our technical analysis.
We cannot see an upward movement in Bitcoin due to the bear market. So what’s the trend in Bitcoin? What are the price levels in Bitcoin? Let’s try to find answers to these questions together in this analysis.
How Many Dollars in Bitcoin? Bitcoin Technical Analysis
Bitcoin (BTC) has dropped 0.8 percent in the last 24 hours, according to CoinGecko data. However, in the last week, Bitcoin has increased by 2.1%. Now let’s examine the Bitcoin chart together.
Bitcoin’s daily chart Source: TradingViewBTC price action is struggling to break past the longstanding resistance trendline. Currently, Bitcoin price action is bearish from the 50-day EMA to retest the broken consolidation range.
The bearish trend in intraday volume during bearish candles supports the possibility of an uptrend that could break above the resistance trendline. Therefore, investors hoping for a bear cycle will have to wait until prices drop below the broken $19,600 resistance level.
In a bullish scenario, if prices reverse from the broken resistance level of $19,600, sideways traders could find an exit opportunity shortly.
The RSI continues above the midline, reflecting a bullish attempt to avoid further declines.
Therefore, technical indicators highlight a weakness in Bitcoin prices pulling back and increasing bullish dominance. As a result, BTC technical analysis shows an uptrend in a short time.
As resistance levels, we can say that the support levels of $ 20,000 and $ 22,450 are the $ 19,600 and $ 18,850 zones.
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