After Bitcoin (BTC) exceeded $ 29 thousand, the market started a selling wave, and the $ 28 thousand level came in BTC as buyers could not meet the price.
With BTC making its recent peak, increasing selling pressures also surprised investors. BTC, which has withdrawn by testing $ 29,150, is almost fighting for $ 28,000. It is clear from the current course of the market that the $28,000 level is of critical importance in the wide time frame.
Bitcoin (BTC) Chart Analysis
With the fud news opening up to the negative scenario, BTC, which fell to 26,900 levels, gathered strength in a short time and showed an increase. It broke the $27,800 resistance with volume and hit the $28,500 levels. This resistance, which is an important criterion for the continuation of the uptrend, was overcome by a voluminous buying pressure in the past days. The violent receptiveness of crypto investors brought the instant rise of $ 29,180 on the BTC side.
BTC, which is currently hovering around $ 27,800 – $ 28,200, is not clearly directed to a position when looking at the big picture. Persistence above $28,400 plays a major role in the formation of healthy bullish data. In a possible downside price movement, the $27,700 – $26,920 levels can act as support, respectively.
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