BTC Price Analysis: Is A Bear Trap Set For Bitcoin Price At $26K?

Coinpedia
Coinpedia

18 Sep 2023 6:04 AM

Amidst the recent bustling market, Bitcoin price demonstrated a notable 2.74% surge last Tuesday. This uptick has further emboldened the bullish momentum,...

  • Bitcoin price experienced a 2.74% surge last Tuesday, pushing it past the $26,600 threshold.
  • The weekend saw a slight decrease in trading volume, indicating a subdued bearish sentiment.
  • Bitcoin price is currently trading at $26,670, showing an intraday surge of 0.51%.
  • There is a potential for a death cross as the 50 and 200-day EMAs converge, with a resistance trendline acting as a bearish hurdle.
  • The 4-hour chart suggests a possible golden crossover and a consolidation zone between $26,274 and $26,730.
  • Technical indicators, such as the RSI and MACD, present a bullish outlook.

The overall sentiment of the article is bullish, with mentions of a surge in Bitcoin price, positive technical indicators, and the possibility of reaching the $30,000 mark. However, there is also a warning of a potential nosedive if the price breaks below certain levels.

Go to publisher site

You May Ask

What was the recent surge in Bitcoin price?What happened to trading volume over the weekend?What are the potential bearish hurdles for Bitcoin price?What is the consolidation zone for Bitcoin price?What do the technical indicators suggest about the market sentiment?

Suggested Reads