Can Bitcoin's Price Rise in the Upcoming Week? Market Analysis

Get the latest market analysis on Bitcoin's price and discover if it will rise in the upcoming week. Stay informed with the latest cryptocurrency news.

Posted 8 months ago in Market Analysis

A chart showing the price movement of Bitcoin over the past few days.

The cryptocurrency market has remained relatively unchanged, with most coins in the red zone. Bitcoin (BTC) has experienced a 0.29% decrease in price over the past 24 hours.

On the hourly chart, Bitcoin is nearing the support level of $25,755. If the current trend continues, a breakout could occur, potentially pushing the price down to the $25,700 zone.

The daily time frame indicates a potential decline to the nearest support level of $25,350 if today's candle closes below the previous bar low. This scenario is likely to persist until the end of the upcoming week.

On the weekly chart, Bitcoin appears to have found support at $25,350. However, a reversal is not yet imminent as the price has not gained enough momentum.

In the short term, it is more probable for Bitcoin to engage in sideways trading within the $25,500-$26,500 range. At the time of writing, Bitcoin is trading at $25,783.

Last updated 9/10/2023, 2:57:41 PM


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