Today, we will examine the price analysis of Bitcoin, which has been at the highest levels of recent months.
When we look at the crypto money market in general, we see that the green color is dominant. Conflux takes the lead with a 14.98% increase among the assets that have risen the most in the last 24 hours. It is followed by NEO and Loopring, which are right behind it.
Bitcoin (BTC) Price Analysis
When we look at the price of Bitcoin, we see that it continues to be priced above the 28 thousand dollar level. Bitcoin price, currently at $28,206, must avoid the $27,708 pivot to target the first major resistance at $28,577. A move towards the Sunday high of $28,342 could signal a long bullish session.
In case of a long rally, Bitcoin will likely test the second resistance level at $29,212. The third resistance level of the asset is located in the $39,716 region. A break from the pivot would activate the first major support level at $27,073.
However, Bitcoin price should avoid below $27,000 and the second major support level at $26,204 in case of eventual selling pressure. The third support level of bitcoin price is located in the $24,700 region.
A hold above the main support levels and the 50-day EMA (25,411) would support a break from $28,577 to $29,212. However, a drop from $27,073 would bring $26,204 and the 50-day EMA (25,411) to the agenda. A drop in the 50-day EMA signals a pullback in price.
In the coming days, news about the banking sector may continue to affect investor sentiment, as the issues to be discussed by the central bank are also in focus. A banking crisis-induced change in central bank monetary policy, which deviates from aggressive policy targets to reduce inflation, will support riskier assets.
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