Is $30K next or is a dump coming to $25K? (Bitcoin Price Analysis)

Bitcoin’s price has been stuck in a tight static range between $25K and $30K, consolidating without a clear direction. It must break out of this critical area to determine its future direction.

Technical analysis

Of Shayan

Daily chart

Bitcoin’s price has formed an ascending channel on the daily time frame and is trying to surpass the upper trend line. However, the upper limit of the channel roughly aligns with the main resistance region at $30K, creating a robust barrier in Bitcoin’s path.

On the other hand, the crucial support region at $25,000 is aligned with the 50-day moving average and the mid-line of the channel, providing significant support to the price.

Considering all this, the price is currently stuck between the significant support region at $25K and the significant resistance at $30K. A breakout from this area would potentially eliminate the uncertainty and provide a bias for cryptocurrency.

4-hour chart

While Bitcoin’s price has been consolidating within the $30K and $25K range, it attempted to surpass the $29K level three times, but each attempt failed, resulting in an ascending triangle pattern. If the price falls below the lower trendline, a decline towards the $25K level is imminent.

On the other hand, if the price manages to break out of the upper trend line, a top towards the critical $30K level and a possible breakout could occur. However, future price action and breakout from the current range will determine Bitcoin’s overall situation in the medium term.

Analysis of the chain

Of Edris

Bitcoin’s price has been rising since the beginning of 2023, and many investors are getting back profits. Net unrealized profit/loss (NUPL), shown on the chart, shows the difference between market value and realized value divided by market value.

Assuming that the last movement is the result of a purchase, NUPL indicates the total amount of profit/loss in all coins represented as a ratio. It can be interpreted as the relationship between investors who are in profit. Values ​​above 0 indicate that investors are in profit, and an increasing trend in value means that more investors are starting to make money.

Considering the recent rise in NUPL, several investors are returning to profit. While this could be interpreted as a signal for the beginning of a new bull market, these investors may soon begin to realize their gains, which could lead to short-term corrections due to increasing selling pressure.