Bitcoin (BTC/USD) Market Sets for Upwards Pullback
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Bitcoin Price Prediction – June 27
Bitcoin (BTCUSD) sets for an upward pullback with an accumulation. Technically, after an accumulation, a markup is expected. However, the overall trend remains bearish; this implies that the impending rally might last only for a short time.
The 9-day Simple Moving Average (SMA) around $62860 acts as a dynamic resistance. The RSI (Relative Strength Index) indicator at 35 suggests the market is in a bearish zone, indicating potential for further downside before a reversal can be expected. The RSI also shows a minor bullish divergence, hinting at a short-term recovery before resuming the downtrend.
BTC/USD Market Key Levels:
Resistance levels: $65520, $73840, $80000
Support levels: 60150, $56500, $50510
BTC/USD – Daily Chart
The BTC/USD daily chart shows that the market is getting set for a bullish move.
BTCUSD has been respecting a diagonal resistance since its inception in March 2024. Following the Sell-side Liquidity (SSL) grab below the $60150 low, BTCUSD might face the upside.
What are the potential price targets for BTCUSD in the near future?
Looking ahead, BTC is projected to make a short-term rally towards the $65520 resistance level, potentially reaching the diagonal resistance before facing significant selling pressure. If the price fails to break above this resistance, a continuation of the bearish trend is expected, targeting the support level at $56500 once again.
BTC/USD – Four-Hour Chart
The BTC/USD four-hour chart shows a strong bullish trend, with the price recently rebounding from the support level of $60150. The price is approaching the resistance level at $65520, which, if breached, could lead to further upside towards $67000.
Bitcoin (BTC) Current Statistics
The current price: $61550
Market Capitalization: $1,210,000,000,000
Trading Volume: $21,400,000,000
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