Bitcoin price forecast – June 9th
The value of Bitcoin’s trading paired with the U.S. fiat currency is currently on the rise as prices fall below $ 35,000. At the time of writing, in the current trading environment, the cryptographic economy is trading at about $ 36,272 at an elevated rate of about 8.20 percent.
BTC / USD market
Resistance levels: $ 40,000, $ 45,000, $ 50,000
Support levels: $ 30,000, $ 25,000, $ 20,000
BTC / USD – daily chart
The rising candlestick has risen to the BTC / USD daily chart to cause the price of crypto actors to rise against the lower-bound line in today’s session. Looking at the level at which the market has sought to recover, the situation of tied trade cannot be said to be over. The bearish trend line stays down on SMA trend lines. The 14-day SMA trend line has touched briefly below the $ 40,000 immediate resistance level as it is below the 50-day SMA indicator. Stochastic oscillators have crossed lines at a distance of 40 in an attempt to point north. This means that there is now an upward movement on the card.
Is the constant rise in prices in the BTC / USD market enough to leave the regional zones?
Stochastic Oscillator Technical Trading Tool, BTC / USD A promising remark has been made to the market that a continuous rise in prices is likely to be sufficient in the long run. More importantly, a strong detachment from the upper zone and an immediate $ 40,000 resistance level are needed for the breach to the north to make the upward trend in cryptography clearer.
At points between about $ 40,000 and the next resistance level of $ 45,000, the market may experience a pit-stop if there is a gradual volatility in the market to provide a continuation of current price developments. If this opinion is repeated, bears may have a chance to find a sales label, especially when a major repair shop is underway.
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BTC / USD 4 hour chart
There has been a line upside down in the dip trading area, as shown BTC / USD 4th hour chart. The rising candlestick has formed to break the area where the bearish and smaller SMAs have set down to mark the market’s original lower trading venue. The 50-day SMA indicator is slightly above them. Stochastic oscillators have moved into overbought territory as lines try to close into it. This suggests that the increase in prices has seemingly reached a certain length of capacity, which may be necessary to suspend or correct it in the near future.
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