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Bitcoin (BTC) Price Prediction for June 20

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Thu, 20/06/2024 - 15:52
Bitcoin (BTC) Price Prediction for June 20
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Bears have come back to the game after a slight bounce back, according to CoinStats.

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BTC chart by CoinStats

BTC/USD

The rate of Bitcoin (BTC) has fallen by 0.32% over the last day.

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Image by TradingView

On the hourly chart, the price of BTC is about to break the local support level of $64,809. If it happens, the energy might be enough for a more profound drop to the $64,000 zone tomorrow.

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Image by TradingView

On the bigger time frame, sellers are keeping their pressure, and there are no reversal signals yet. At the moment, one should pay attention to the interim level of $64,000. 

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If the decline continues and the daily bar closes near it or below, traders may expect a test of the $63,000 mark soon.

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Image by TradingView

From the midterm point of view, traders should focus on the previous bar's low at $65,000. If the candle closes below it, there is a possibility to see a drop to the $60,000-$62,000 range.

Bitcoin is trading at $64,805 at press time.

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