Claim BonusBitcoin Price Analysis: Is Bottom In For Bitcoin Price Or Is A Crash to $24k Imminent?
Even after spending two weeks in deep consolidation, the Bitcoin price shows no intentions of reclaiming the higher grounds. Thus, the sideways trend continues and restricts the BTC price spread between $27500 and $26000 levels. The aforementioned range can be considered as a no-trading zone and therefore, interested traders must wait for a clear breakout before positioning their funds in the market.
Also Read: Bitcoin Whale Shifts 31,000 BTC; Is A BTC Dump Ahead?
Bitcoin Price Daily Chart
- A potential breakout from the range barrier will determine the near future trend for BTC
- An ascending trendline drives the long-term rally for crypto holders.
- The intraday trading volume in Bitcoin is $14.1 Billion, indicating an 8% loss.
Source-Tradingview
In the daily time frame chart, the Bitcoin price shows a long lower price rejection candle at the range support of $26000. This reversal sign indicates the buyers continue to defend bottom support and may continue to a consolidation phase for a longer period.
Anyhow, the short-term trend in Bitcoin price is still bearish, and therefore, a downside potential looks more promising to predict. A daily candle closing below $26000 will accelerate the selling pressure to drive a longer correction.
However, a potential downfall would face immediate support at $25000 aligned with the 200-day EMA. In a pessimistic scenario, a breakdown below $25000, will plunge the BTC price to the combined support of $24000 and a rising support trendline.
Will Bitcoin Price Dive to $24000?
A Bearish breakdown below the range support of $26000 will signal the resumption of the prevailing correction phase. Ending the two weeks’ consolidation on the bears’ side will trigger a significant downfall to $24000. The key support level that could undermine this potential downfall is $25000.
- Bollinger Band: The midline of the BB indicator acts as a dynamic resistance against rising BTC prices.
- Vortex indicator: The VI- slope(orange) moving above the VI+ slope reflects the bearish trend remains intact.
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.
Related Articles
- Ethereum Treasury BitMine Acquires 41,788 ETH as Tom Lee Predicts Crypto Market Bottom
- Breaking: Michael Saylor’s Strategy Adds 855 BTC Amid Bitcoin’s Crash Below Its Average Buy Price
- XRP News: Ripple Secures Full EU-Wide Electronic Money Institution License
- Ethereum Slips Below $2,200 Amid Broader Crypto Market Crash
- Crypto Market Crash: Why Are BTC, XRP, ETH, and DOGE Prices Falling Today?
- Here’s Why Pi Network Price Just Hit an All-Time Low
- Crypto Events to Watch This Week: Will the Market Recover or Crash More?
- XRP and BTC Price Prediction if Michael Saylor Dumps Bitcoin Following Crypto Market Crash
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
