Bitcoin price falls towards the $9200 support

The Bitcoin price line fell towards the $9200 support on the 24th of June. Rocket Bomb, the crypto analyst, was of the opinion that BTC price would see a rise towards the $9900 mark. The cryptocurrency was observed trading within a day’s range of $9210.00 to $9292.85.

1-Day Bitcoin price analysis (24th June)

Bitcoin Price Chart by Trading View

At the beginning of the 24th of June, the BTC price line was at the $9650 mark. After 07:00 GMT, the price line fell towards the $9550 mark, while it saw another downtrend towards the $9350 level near 10:40 GMT. At the time of writing, Bitcoin BTC was observed trading at $9227.64 US Dollars.

Bitcoin price movement; fall towards $9200

Rocket Bomb is a TradingView analyst who believed suggested two possible scenarios for BTC price.

Bitcoin Price Chart by Trading View

The analyst suggested that the BTCUSD pair will either move upwards on the hourly chart, or it will turn bearish and fall.

As per the first scenario, the BTCUSD pair was expected to turn bullish and tread towards the $9688 level, while the second scenario suggested that the price line will fall towards the $9044 level. Currently, the cryptocurrency has fallen towards the $9200 level, which means that the second scenario came into play.

In another one of their analyses for BTCUSD, Rocket Bomb drew a falling wedge on the hourly chart.

Bitcoin Price Chart by Trading View

In the idea, the analyst discussed that the price will see a fall due to the falling wedge pattern, after which cryptocurrency was expected to see a rise towards the $9900 mark. However, the idea did not play and the BTC price broke below the falling wedge, after which it moved towards the $9200 support.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.