Bitcoin (BTC/USD) Market Swings Over $20,000
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Bitcoin Price Prediction – June 26
The present obtainable trading situation of the BTC/USD trade showcases the crypto market swings over the $20,000 support line. Over several hours ago, the crypto’s worth is trading between $21,568 and $21,306 at an average minimal 0.39% negative.
BTC/USD Market
Key Levels
Resistance levels: $22,500, $25,000, $27,500
Support levels: $20,000, $17,500, $15,000
BTC/USD – Daily Chart
The BTC/USD daily chart reveals the crypto market swings over the $20,000 support level underneath the sell signal side of the SMAs. The 50-day SMA indicator is above the 14-day SMA trading indicator. The bearish trend line is above the smaller SMA at the short end. The Stochastic Oscillators have struggled to travel northbound through variant range lines. And they have slightly moved into the overbought region, signifying that an upward force is relatively ongoing.
Will the BTC/USD market swing furthermore in the subsequent sessions?
There can be room for more upward surges in the BTC/USD trade activities if bulls tend to consolidate their stances at the current trading point that the crypto market swings over the $20,000 support level. However, long-position takers should be wary of jumping into the market while even some upward motions may occur above the value line. The trading outlook still denotes that the crypto economy will face a correction before getting decent buying order positions.
On the downside of the technical analysis, the BTC/USD market operations minimally require a resistance point around $24,303, as indicated by the reading of the 14-day SMA indicator, before moving back to satisfy the resumption of a downward trend. And the maximum resistance value line is around $31,980 in the long-term run. As it is, the gravitational force to the upside appears to get exhausted gradually. A bearish candlestick is required to emerge for a confirmation of downs coming back. And that can put the $20,000 support level at risk of being breached sustainably to a lower-trading zone afterward.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart reveals the crypto economy market swings over the $20,000 support level. The 14-day SMA indicator has curved northward closely above the value line underneath the 50-day SMA indicator. Price has moved in ranges briefly past the smaller SMA to the north. The bigger SMA indicator is around the $22,611 resistance level in the medium-term run. The Stochastic Oscillators are between the 80 and 40 ranges, seemingly trying to cross the lines back to the downside. That indicates the market may not surge past some resistances above it in the near time.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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