Bitcoin price forecast – June 30
Currently, BTC / USD is seen to fall more than 4.42% within 24 hours as it trades at $ 34,319.
BTC / USD Long Term Trend: Downward (Daily Chart)
Resistance levels: $ 42,000, $ 44,000, $ 46,000
Support levels: $ 28,000, $ 26,000, $ 24,000
A daily chart reveals it BTC / USD failed to exceed the previous resistance level of $ 36,094 as the price of Bitcoin begins its holiday by rising towards the $ 34,000 level within the channel. However, the first level of support is $ 30,000. Below this, the support is $ 28,000, $ 26,000 and $ 24,000.
Bitcoin Price Forecast: Can the price of Bitcoin be retested for $ 36,000?
Today’s trading marks a new day Bitcoin price will not stay above the 21 – day moving average as it appears to set a negative price drop below $ 34,000 for a few more days. Meanwhile, a break above the $ 35,906 opening price would have set the first digital asset to reach its closest resistance at the $ 36,500 level. In other words, traders clearly see that Bitcoin does not break down when the technical indicator Relative Strength Index (14) faces a downside.
Today, the price of Bitcoin could not rise higher as it is seen to fall towards a 9-day moving average. Although the candle is still closing and it does not appear that the bulls may end up closing above the upper limit of the channel. In addition, if the technical indicator moves below the 45 level, the market price may end in a negative direction, but on the contrary, the upward trend may reach resistance levels of $ 42,000, $ 44,000, and $ 46,000.
BTC / USD Medium Term Trend: Fluctuating (4H chart)
Viewed from the four-hour chart, the bears are seen returning to the market when the bulls didn’t defend $ 36,485. However, $ 32,500 and less can come into play if downward force increases market mobility.
In addition, if buyers capture the current movement and push it up, merchants can expect retesting at a $ 35,000 resistance level; Violation of this level may allow bulls to strike at least $ 36,000. Currently, the signal line of the relative intensity index (14) of the technical indicator is seen to be moving below the 50 level, which could provide more down signals in the near future.
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