Bitcoin (BTC), which has not been able to clearly overcome the minor resistance level, continues its movement in a narrow price range.
BTC, which has not yet broken $29,262 in volume, continues to trade in the $400 price zone. If the pioneer of cryptocurrencies, which went into a stagnant mode with the slowdown in the news flow in the industry, can jump above $ 29,700, it will trigger a positive outlook. However, in the process, any pullback from the $29,262 resistance could increase the possibilities for further declines.
Bitcoin (BTC) chart analysis
Finding a strong buyer response below $29,000, BTC managed to jump above $29,250. However, the fact that this point is a directional resistance in the short time frame is giving BTC a challenge. Clearly exceeding $29,262 – $29,698 is of great importance in order to see the spring mood again in cryptocurrencies. Then, it may be possible to watch increases to 30,303 – 30,808 and 31,516 dollars, respectively.
The constant difficulty of $29,262, which is the minor resistance, or the sector-based FUD news may pull the leader of cryptocurrencies to the lower support points. The regions that can be followed in this process are 28,896 – 28,406 – 28,039 and 27,467 dollars, respectively. Failure to protect the bottom support level by buyers could open the door for a move towards $25,200.
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