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Bitcoin (BTC) Price Analysis for June 13

Tue, 06/13/2023 - 18:00
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Denys Serhiichuk
When is drop of Bitcoin (BTC) going to finish?
Bitcoin (BTC) Price Analysis for June 13
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Bulls could not hold the gained initiative as some coins have returned to the red zone.

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The rate of Bitcoin (BTC) has increased by 0.81% since yesterday.

BTC/USD chart by TradingView

Image by TradingView

Despite today's rise, the rate of Bitcoin (BTC) has made a false breakout of the local resistance level at $26,269. If the drop continues, the decline can lead to the test of the support at $25,826. Such a scenario is relevant until tomorrow.

BTC/USD chart by TradingView

On the bigger time frame, bears are also about to seize the initiative as the daily candle is about to close below the $26,000 zone. In this regard, that might be a prerequisite for an ongoing correction to the closest support level at $25,389.

BTC/USD chart by TradingView

Image by TradingView

From the midterm point of view, it is too early to make any predictions as a lot of time remains before the bar closure.

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However, if the breakout of $25,389 happens, the accumulated energy might be enough for a more profound decline to the $24,500-$25,000 area.

Bitcoin is trading at $25,813 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at