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Bitcoin (BTC) Price Analysis for June 27

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Tue, 27/06/2023 - 18:00
Bitcoin (BTC) Price Analysis for June 27
Cover image via www.tradingview.com

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According to the CoinMarketCap ranking, the prices of some coins are falling while others keep rising.

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BTC/USD chart by TradingView

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BTC/USD

The rate of Bitcoin (BTC) keeps growing, going up by 1% over the last 24 hours.

BTC/USD chart by TradingView

Image by TradingView

On the local chart, the price of Bitcoin (BTC) has set a local support level formed by its false breakout. At the moment, the rate has tried to fix above the $31,000 zone.

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If buyers manage to do that by the end of the day, there is a chance to see a further upward move to the $31,200-$31,400 zone tomorrow.

BTC/USD chart by TradingView

Image by TradingView

On the bigger chart, buyers are trying to seize the initiative again as the candle is about to absorb the recent correction. If the bar closure happens near the $31,000 area, traders are likely to see a test of the resistance at $31,458 shortly.

BTC/USD chart by TradingView

Image by TradingView

From the midterm point of view, the week has just started, and it is too early to make any predictions. However, if the bar closes above the last candle closure, growth may continue to the $32,000 zone and above.

Bitcoin is trading at $30,821 at press time.

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