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Bitcoin Short term analysis

Bitcoin Short term analysis: Can Bitcoin Hit $34,000 this week?

Bitcoin’s short-term price analysis from a technical perspective says a lot about Bitcoin’s next move. Day traders or retail traders can benefit from predicting these small moves right. Let’s take a deeper dive into the technical analysis. The Bitcoin price today is $30,627.29 with a 24-hour trading volume of $30,887,958,163. Bitcoin is up 3.17% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $583,209,996,718. It has a circulating supply of 19,042,168 BTC coins.

Bitcoin Short term analysis

Bitcoin dropped to the bottom of $26,000 and it’s up almost 20% after the dip – not enough to so we call it bullish, at least so far. Bitcoin has major resistance at $28,500 and it’s continuously rising in a bullish parallel channel on an hourly chart. Bitcoin has local resistance at $31,700 and once it breaks above which is more likely to happen this week, we might see Bitcoin rising to $34,000. Bitcoin will oscillate between $30,000 and $38,000 until there are extremely green candles.

Bitcoin’s fear and greed index is at its minimum right now and given this fear, Bitcoin will not get a big investment in the larger time frames for now.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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