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Mastering Crypto

09/28 12:21

Bitcoin price analysis


Bitcoin is witnessing a tough battle between the bulls and the bears near the 20-day exponential moving average ($26,436). The bulls pushed the price above the 20-day EMA on Sep. 27 but could not clear the 50-day simple moving average ($26,757).

This indicates that the bears have not given up and are selling the rallies to the 50-day SMA. The bears will have to pull the price below $25,990 to clear the path for a potential fall to $24,800. This level is likely to attract solid buying by the bulls.

On the upside, the first sign of strength will be a break and close above the 50-day SMA. The BTC/USDT pair may then rise to $27,500 and subsequently to the overhead resistance at $28,143. The bears are expected to defend this level with all their might.1695903747715.png

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