Bitcoin price forecast – June 30
The price of Bitcoin has returned below $ 35,000 after losing an important trend line that has supported the uptrend in the cryptocurrency.
BTC / USD Long Term Trend: Downward (Daily Chart)
Resistance levels: $ 40,000, $ 42,000, $ 44,000
Support levels: $ 30,000, $ 28,000, $ 26,000
After losing momentum to more than $ 36,000, BTC / USD the coin will fall again when the coin exceeds the 9 and 21 day moving averages. The price of Bitcoin is seen to be below the $ 35,000 support level. However, the resistance of more than $ 36,000 has once again proved too strong for bull breaking, and the bears are now pushing the coin price back down to get test support again.
Bitcoin price forecast: The price of Bitcoin may follow the disadvantages
Despite the risk of losing trade above the upper limit of the channel, this does not mean that the downward trend will begin or that the larger bull market will be immediately over. Bitcoin price still follows the lateral movement at one point, and although the 9-day MA is still below the 21-day MA, a dramatic downside may begin to materialize.
Looking at the daily chart, if the bulls push higher, the first resistance level is $ 36,000. Therefore, a sustained movement of more than $ 38,000 is needed to get a rise in hold, while the next important resistance may be $ 39,000. However, other resistance levels could be around $ 40,000, $ 44,000, and $ 46,000, but when the line of the technical indicator’s relative intensity index signal moves below the 50 level, the next downtrend could hit critical subsidies by $ 30,000, $ 28,000, and $ 26,000.
BTC / USD Medium Term Trend: Upward (4H chart)
Viewed from the four-hour chart, bears are seen returning to market price hovering around a 21-day moving average. A break below this important hurdle can cause it to drop as low as $ 34,000 as bulls rise and protect against a fall below that level. In the meantime, if it doesn’t get back $ 36,000 in the near future, bears may have priority over bulls, and BTC / USD may soon be reeling at a much lower rate.
However, all bearish movements below the 9-day and 21-day moving averages can see support levels of $ 33,000 and below. At the same time as the technical indicator Relative Intensity Index (14) moves around the 51 level, the down signals can push the price towards the lower limit of the channel. On the other hand, if the bulls push the coin up, the potential resistance level will remain at $ 37,000 and above.
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