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Bitcoin (BTC) Price Analysis for June 30

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Fri, 30/06/2023 - 14:14
Bitcoin (BTC) Price Analysis for June 30
Cover image via www.tradingview.com

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Bulls are getting back in the game, as most of the coins are again in the green zone.

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Top coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has risen by 1.53% over the past 24 hours.

BTC/USD chart by TradingView

Image by TradingView

On the hourly chart, the rate of Bitcoin (BTC) is trading in the middle of the recently formed channel. At the moment, traders should focus on the $31,000 zone. If the candle closes above it, the growth can continue to the $31,500 area on the weekend.

BTC/USD chart by TradingView

Image by TradingView

On the bigger time frame, the price of BTC has once again tried to fix above the $31,000 mark. The rate has almost touched a resistance level at $31,458. If the return to that mark does not happen today, there is a chance to see ongoing sideways trading between $30,000 and $31,000.

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Bitcoin Cash (BCH) Price Analysis for June 29

Such a scenario is relevant within the next few days.

BTC/USD chart by TradingView

Image by TradingView

From the midterm point of view, Bitcoin (BTC) keeps looking bullish; however, one should pay attention to the bar closure. If it happens far from the previous candle peak at $31,458, sellers might locally seize the initiative that can lead to a drop to the $30,000 range.

Bitcoin is trading at $30,790 at press time.

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