Bitcoin price forecast – June 14
According to the daily chart, Bitcoin bulls are working hard to promote the uptrend after the coin touches support for $ 38,744.
BTC / USD Long Term Trend: Downward (Daily Chart)
Resistance levels: $ 46,000, $ 48,000, $ 50,200
Support levels: $ 34,000, $ 32,000, $ 30,000
BTC / USD is currently 1.61% higher on the day. The price of Bitcoin opened the session at $ 39,015 and now adjusted upwards to the prevailing market value of $ 40,000. The first digital assets are moving in a short-term uptrend with low volatility. However, current circumstances mean that when a coin moves above the 9-day and 21-day moving averages, the price may remain in the range for the next few trading hours. At the same time, the technical indicator Relative Strength Index (14) exceeds the 50 level level.
Bitcoin Price Forecast: Would the price of Bitcoin be over $ 40,000?
When the market opens today, after testing the lowest $ 38,744, Bitcoin price is currently about $ 39,642. At the same time, the market is likely to retreat or sell shortly after reaching a critical resistance level of $ 41,000, and traders could see that $ 39,000 to $ 38,000 will be retested before climbing.
The downside is that if the market decides to fall, the price of Bitcoin may fall below the 9-day and 21-day moving averages to $ 35,000, and if this support does not hold a downtrend, BTC / USD may continue to experience a decline towards support levels of $ 34,000, $ 32,000 and critically $ 30,000. Any upward movement toward the channel cap could hit resistances of $ 46,000, $ 48,000, and $ 50,000.
BTC / USD Medium Term Trend: Fluctuating (4H chart)
According to the four-hour chart, the coin is expected to gain momentum and hit more than $ 40,800. At the same time as volatility fluctuates, selling pressure still exists, which may result in the coin not exceeding the channel cap. At the same time, values of $ 38,000 and below can come into play if the BTC breaks the 9-day and 21-day moving averages.
However, as much as buyers are able to further strengthen and intensify the market, traders can expect a cross over the channel, and breaking this hurdle can still allow bulls to reach $ 42,000 and more. The Relative Strength Index (14) for the technical indicator is seen to be around 64, indicating that the market is likely to trade sideways.
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