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


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.

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You May Ask

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