Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3178 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php). Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('A long-awaited correctional movement happened, but a bit earlier than predicted. On Tuesday, June 4, Bitcoin fell sharply, and its <a href="https://u.today/bitcoin-price-drops-below-8000-peter-brandt-shares-his-gloomy-prediction">price dropped below $8,000</a>; over the past day, its rate reduced by 7.6%. The amount of transactions with the asset over the past 24 hours has decreased by $3 bln to $23 bln.
Advertisement
<a rel="nofollow" target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin chart by CoinMarketCap</a>
Over the past days, <a href="https://u.today/wsj-bitcoin-price-could-hit-50000-as-options-traders-become-aggressive">Bitcoin</a> has been located between the values of $8,500 and $8,800, after failing to consolidate above $9,000.
<a rel="nofollow" target="_blank" href="#">card</a>
Analyzing the reasons for today’s market dump, nothing points to fundamental causes, but rather traders have fixed their profits.
Now, let’s get to the chart to predict the rate in the short and long term.
<a rel="dofollow" href="https://www.tradingview.com/symbols/BTCUSD/">BTC/USD chart by TradingView</a>
Although Bitcoin lost around $500 over 24 hours, the general tendencies remain bullish, as <a href="https://u.today/bitcoin-price-rally-makes-amd-stock-great-again">BTC</a> is located above the vital support at $7,500. What is more, the <a rel="nofollow" target="_blank" href="#">Fibonacci retracement</a> is in the red zone, and the potential bounce back is likely to happen to $8,117 (38.2%) in the short-term scenario. The RSI pattern also indicates that bears have nothing to sell, and soon bulls may retake the initiative.
<a rel="dofollow" href="https://www.tradingview.com/symbols/BTCUSD/">BTC/USD chart by TradingView</a>
On the bigger time frames, <a rel="nofollow" target="_blank" href="#">Bitcoin</a> is also looking promising, struggling to fix at the psychological $8,000 level. The technical indicators back this suggestion: the MACD indicator is about to change the trend from bearish to bullish, while RSI has bounced off from the oversold area.
<a href="https://u.today/bitcoin-price-plummet-caused-by-massive-whale-btc-sell-off-forbes">card</a>
Overall, if any further market dumps occur, the price for 1 BTC might reach $9,000 by mid-June.
The price of <a href="https://u.today/bitcoin-price-is-heading-towards-100000-with-hardly-anyone-noticing-analyst">BTC</a> is trading at $8,009 at the time of writing.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
__TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
__TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 62)
__TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
Warning: Undefined array key 1 in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3181 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php). Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('A long-awaited correctional movement happened, but a bit earlier than predicted. On Tuesday, June 4, Bitcoin fell sharply, and its <a href="https://u.today/bitcoin-price-drops-below-8000-peter-brandt-shares-his-gloomy-prediction">price dropped below $8,000</a>; over the past day, its rate reduced by 7.6%. The amount of transactions with the asset over the past 24 hours has decreased by $3 bln to $23 bln.
Advertisement
<a rel="nofollow" target="_blank" href="https://coinmarketcap.com/currencies/bitcoin/">Bitcoin chart by CoinMarketCap</a>
Over the past days, <a href="https://u.today/wsj-bitcoin-price-could-hit-50000-as-options-traders-become-aggressive">Bitcoin</a> has been located between the values of $8,500 and $8,800, after failing to consolidate above $9,000.
<a rel="nofollow" target="_blank" href="#">card</a>
Analyzing the reasons for today’s market dump, nothing points to fundamental causes, but rather traders have fixed their profits.
Now, let’s get to the chart to predict the rate in the short and long term.
<a rel="dofollow" href="https://www.tradingview.com/symbols/BTCUSD/">BTC/USD chart by TradingView</a>
Although Bitcoin lost around $500 over 24 hours, the general tendencies remain bullish, as <a href="https://u.today/bitcoin-price-rally-makes-amd-stock-great-again">BTC</a> is located above the vital support at $7,500. What is more, the <a rel="nofollow" target="_blank" href="#">Fibonacci retracement</a> is in the red zone, and the potential bounce back is likely to happen to $8,117 (38.2%) in the short-term scenario. The RSI pattern also indicates that bears have nothing to sell, and soon bulls may retake the initiative.
<a rel="dofollow" href="https://www.tradingview.com/symbols/BTCUSD/">BTC/USD chart by TradingView</a>
On the bigger time frames, <a rel="nofollow" target="_blank" href="#">Bitcoin</a> is also looking promising, struggling to fix at the psychological $8,000 level. The technical indicators back this suggestion: the MACD indicator is about to change the trend from bearish to bullish, while RSI has bounced off from the oversold area.
<a href="https://u.today/bitcoin-price-plummet-caused-by-massive-whale-btc-sell-off-forbes">card</a>
Overall, if any further market dumps occur, the price for 1 BTC might reach $9,000 by mid-June.
The price of <a href="https://u.today/bitcoin-price-is-heading-towards-100000-with-hardly-anyone-noticing-analyst">BTC</a> is trading at $8,009 at the time of writing.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
__TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 474)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1002)
__TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 62)
__TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
Twig\Template->display(Array) (Line: 379)
Twig\Template->render(Array, Array) (Line: 40)
Twig\TemplateWrapper->render(Array) (Line: 53)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
Alex Dovbnya
Arman Shirinyan
