Determining the Direction Of Bitcoin’s Next Move

Determining the Direction Of Bitcoin’s Next Move
фото показано с : beincrypto.com

2020-6-5 12:12

The Bitcoin price caught a bit of relief on June 4 to reach a daily high of $9,881. However, the price failed to flip the $9,840 level as support and has already begun to show weakness.

At the time of writing, the BTC price was trading right at the 0.618 Fibonacci level of the entire downward move that began on June 2. While it has moved above this area in the form of an upper-wick, it has failed to reach a decisive breakout.

Bitcoin Short-Term Trend

Volume has been minimal, indicative that a decisive move in either direction will soon occur. If a breakout occurs, the next resistance level would be found at $9,980, the 0.786 Fib level of this downward move.

The hourly RSI has begun to generate some bearish divergence, a sign that the price will not likely break out above this level, rather it will get rejected and move downwards.

Bitcoin Chart By Tradingview

However, in the short-term, BTC just created a bullish candlestick with very high volume and is again directly under the descending resistance line attempting to break out. This could cause another attempt at moving above $9,840, but due to the aforementioned bearish divergence and resistance, it’s expected to fail.

Bitcoin Chart By Tradingview Future Movement

In the longer-term, we can see that BTC has been following a very steep ascending support line since the bottom on March 13. However, the price is also facing strong resistance at $10,400, an area above which the price has not traded since September 2019.

Bitcoin reached this area on June 1, but decreased and created a bearish engulfing candlestick the next day.

The ascending support line and $10,400 resistance area will coincide with each other around June 16. Therefore, a decisive move is expected to occur sometime before this date.

Due to the bearish divergence that’s also present in the daily RSI and the decreasing volume throughout this upward move, a breakdown is more likely. If one occurs, it is likely to be rapid, due to the lack of support below the current price, especially if $8,000 is broken.

Bitcoin Chart By Tradingview

For our previous analysis, click here.

The post Determining the Direction Of Bitcoin’s Next Move appeared first on BeInCrypto.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 70496.5 (+0.25%)
Объем 24H $44.663b
Изменеия 24h: -0.91 %, 7d: 0.39 %
Cегодня L: $68905.04 - H: $71538.73
Капитализация $1410.145b Rank 1
Цена в час новости $ 9729.2 (624.59%)

price bitcoin begun show support time trading

Источник: beincrypto.com

price bitcoin → Результатов: 126


Фото:

Elliot Wave Theory Says Bitcoin Price Is Headed To $40,000, But The End Game Will Shock You

A technical analyst known as ‘V’ has shared a striking Elliott Wave Theory-based Bitcoin price outlook on X that he believes most market participants are completely overlooking. The chart, plotted on Bitcoin’s weekly timeframe, outlines a multi-year roadmap that could first subject the cryptocurrency to significant downside pressure, potentially triggering a price crash to $40,000 before setting the stage for an explosive rally that could shock investors and traders.

2026-3-4 18:00


Kaspa (KAS) Price Mirrors Bitcoin’s Early Path As Chart Points To New All Time High

Kaspa price is back in focus after a chart surfaced showing a striking resemblance between KAS price action and Bitcoin price behavior before one of its most powerful historical rallies. The visual comparison is hard to ignore, showing a long consolidation phase, gradual upward pressure, and then a sharp expansion that changed Bitcoin’s trajectory completely.

2026-1-21 17:30


Фото:

Bitcoin demand is breaking out, but dealers are mechanically forcing stability: Here is the exact price the dam cracks

Bitcoin is now trading around near $96,000 as spot ETF inflows and options market positioning exert opposing mechanical forces on price behavior. The current price sits just outside a range between roughly $90,000 and $94,000, a band that has persisted despite intermittent surges and declines in spot demand through US-listed Bitcoin exchange-traded funds.

2026-1-16 20:50


Фото:

Bitcoin Big Move Incoming? BTC Whales Are Stacking Long Positions At A Rapid Pace

Bitcoin’s price may be showcasing slight upward movement, but the overall outlook is still quite bearish considering the volatile state of the broader cryptocurrency market. Even with the flagship asset trading below the $90,000 price mark for the past few weeks, expectations for another huge rally remain solid in the hearts of major investors as […]

2025-12-29 19:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru