Home Finance News What’s Coming Next: Bitcoin Price Analysis – $25K or $30K?

What’s Coming Next: Bitcoin Price Analysis – $25K or $30K?

What’s Coming Next: Bitcoin Price Analysis – $25K or $30K?

Bitcoin has shown positive signs of reaching its previous swing high, indicating a bullish momentum. The price has surged to reclaim the 200-day moving average and has the potential to break through the substantial resistance at $30K. However, there is a possibility of a rejection as the price approaches a critical resistance zone at $28K. Another rejection could drive the price back down to $25K.

On the 4-hour timeframe, Bitcoin has found substantial support at $25K after a decline. The price consistently surpasses previous highs, indicating growing interest among market participants. However, the price is currently in an ascending channel and is approaching a crucial resistance zone at $28K. A consolidation phase seems likely, characterized by minor rejections towards the lower boundary of the channel.

On-chain analysis reveals an intriguing relationship between investor actions and price movements. The 12-18 months UTXO group demonstrates resilience by holding onto their investments, indicating high confidence in Bitcoin’s long-term potential. In contrast, the 6-12 months UTXO cohort actively participates in selling on exchanges, highlighting varying levels of confidence among investors. The limited influx of Bitcoin from the 12-18 months UTXO group into exchanges suggests low selling pressure and the possibility of the realized price not acting as a significant resistance level for Bitcoin.

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