Bitcoin (BTC) Price Analysis for June 18 – Crypto News – Crypto News
Connect with us
Bitcoin (BTC) Price Analysis for June 18 Bitcoin (BTC) Price Analysis for June 18

Cryptocurrency

Bitcoin (BTC) Price Analysis for June 18 – Crypto News

Published

2 years ago

on

Neither bulls nor bears are controlling the situation on the last day of the week as the rates of some coins keep rising while others have returned to the red zone.

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has almost not changed since yesterday.

BTC/USD chart by TradingView

Image by TradingView

On the hourly chart, the price of Bitcoin (BTC) is trading in the middle of a narrow channel between the support at $26,386 and the resistance at $26,633.

Any sharp moves are unlikely until the end of the day as the coin has passed most of its ATR. In this case, ongoing sideways trading in the area of ​​$26,500 is the more likely scenario.

BTC/USD chart by TradingView

Image by TradingView

On the bigger time frame, the rate of BTC has almost tested the resistance at $26,809, where it found bears’ pressure. If a local decline does not happen, traders may expect one more attempt to break out of the $26,800 zone. If that happens, the upward move may lead to the $27,200-$27,600 area.

BTC/USD chart by TradingView

Image by TradingView

On the weekly chart, the rate of BTC has made a false breakout of the mirror level at $24,819, which means that buyers have seized the initiative locally. However, it is too early to think about a fast reversal as the main crypto needs to accumulate more energy. Respectively, consolidation in the range of $26,000-$27,000 is the more likely scenario till the end of the month.

Bitcoin is trading at $26,483 at press time.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending