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Bitcoin (BTC) Price Analysis for June 18

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Sat, 18/06/2022 - 17:45
Bitcoin (BTC) Price Analysis for June 18
Cover image via www.tradingview.com

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The fall of the market has continued over the weekend, and all of the top 10 coins have continued their fall.

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Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has broken the vital $20,000 mark, falling by 7% over the last 24 hours.

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BTC/USD chart by TradingView

On the local time frame, Bitcoin (BTC) has formed the support level at $19,047. At the moment, one needs to pay close attention to it as, if buyers again lose the initiative, there are chances to see the drop to the $18,500 area shortly.

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BTC/USD chart by TradingView

On the bigger chart, no one is willing to buy Bitcoin (BTC) currently as the price is trading below the peak of $2,018. In addition, the selling volume is high, confirming bears' pressure. Likewise, daily closure below $19,000 could cause a prerequsite for a further decrease.

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BTC/USD chart by TradingView

From the mid-term point of view, Bitcoin (BTC) is trading below the mirror level at $19,490. If buyers can return the price above it by the end of the week, one can expect a return to the $20,000 area within the next few days.

Bitcoin is trading at $19,115 at press time.

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