Claim $500Bitcoin Price Analysis: Crucial Levels to Watch as BTC Price Goes Flattish Amid Market FUD
Bitcoin Price Analysis: For over a week, the Bitcoin price has been hovering above the $27000-$26780 support, showcasing indecisiveness among market participants. The daily candles with multiple lower tails reflect the buyers are accumulating at the aforementioned support. If the buying pressure persists, the BTC price will witness a minor upswing to rechallenge the resistance trendline of the channel pattern.
Key Points:
- The ongoing correction phase is still above the 50% Fibonacci retracement level indicating the Bitcoin price is bullish in the long term.
- Several rejection candles at the $27000 level validate it as a strong demand zone.
- The intraday trading volume in Bitcoin is $14.3 Billion, indicating a 4% loss.
Source-Tradingview
By press time, the Bitcoin price traded at the $26894 mark with an insignificant gain of 0.01%. The prices still moving sideways above $27000-$26780 support keeps several cryptocurrencies in uncertainty.
However, in the midst of the current consolidation, the BTC price showed a reversal from the support trendline of the channel pattern. This reversal and strong support from $27000 suggest the coin price is likely to rise high in coming trading sessions.
Also Read: Top BRC – 20 Tokens Set To Take The Next Big Leap
The potential rally may surge the prices 7% higher to hit the channel pattern’s resistance trendline. However, until this overhead trendline is intact, the Bitcoin price may extend the correction phase to lower levels.
Thus, a breakout above the resistance trendline is needed to kickstart a new recovery rally that may surpass the last swing top of $31170.
Technical Indicator
Moving Average Convergence Divergence: The MACD(blue) and signal(orange) line goes flattish accentuating the sideways trend in the market.
Bollinger Band: The lower back of the BB indicator showing a downslope indicates the bearish momentum in the market is still aggressive.
Bitcoin Price Intraday Levels
- Spot rate: $26893
- Trend: Bullish
- Volatility: Trap
- Resistance levels- $27800 and $29800
- Support levels- $26786 and $25200
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Related Articles
- Bitcoin Whale Doubles Down on BTC, ETH, SOL Short Positions, $243M at Stake
- IMF and El Salvador in Bitcoin Talks: Progress Made, Compliance Deadline Set
- Trump Media Invests $40M in Bitcoin as Incoming CFTC Chair Signals Crypto Clarity Act Push in January
- Aave DAO Saga Deepens as Alignment Proposal Moves to Snapshot; AAVE Price Down 7%
- Fed’s Stephen Miran Urges More Rate Cuts In 2026 To Avoid U.S. Recession
- Bitcoin Price Prediction As Michael Saylor Pauses BTC Purchase- Is A Fall to $74k Imminent?
- Aster launched Phase 5 Buyback Program Allocating 80% Fees. Will ASTER Price Rally?
- XRP Price Prediction: Rare Bullish Patterns Align With Powerful Catalysts
- Weekly Crypto Price Prediction: Bitcoin, Ethereum, and XRP as Market Momentum Builds
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
