Crypto analysis: Bitcoin Surges 0.6%, Are We Witnessing the Return of the Bull Market?

 

Bitcoin's price sees a significant 0.6% surge, prompting speculation about the resurgence of a bullish market trend.

BTC last 24 hr. activity:

The price of Bitcoin (BTC) has been relatively stable in the last 24 hours, trading around $26,150. It is currently down 0.15% from yesterday.

However, there have been some notable swings in price throughout the day. For example, BTC dipped below $26,000 earlier this morning, but was able to recover quickly. It also reached a high of $26,300 this afternoon, but has since fallen back slightly.

The 24-hour activity of Bitcoin (BTC) has been relatively quiet today, with a trading volume of $9.86 billion. This is down from the previous day's volume of $11.7 billion. The price of BTC has also been relatively stable, trading around $26,150.

 

BTC price analysis by Cryptocrit

Technical analysis and possibilities:

Bitcoin is moving sideways right now. It went below an important support level of $26,500. This suggests it might go down even more, maybe below $26,000.

Bitcoin tried to go up past $27,500, but it couldn't, so it went back down. This made Bitcoin drop below two important support levels: $27,000 and $26,500. This shows that the situation for Bitcoin is not good right now.

At one point, Bitcoin went below $26,200, getting close to $26,000. But then it stopped and went up a little to around $26,026. It seems like Bitcoin is trying to stop losing too much value.

Right now, Bitcoin is a bit above the 23.6% Fibonacci level. It might face resistance at $26,350 and $26,500 soon.

If Bitcoin can get past $26,700, it might go up to $27,000 and even $27,500. But if it can't, it might go down to $25,400 or even $25,000