Bitcoin price recovers to reach $9420: what’s next?

On the 15th of June, the Bitcoin price turned bearish and briefly fell below the $9000 level. The cryptocurrency returned above the $9400 level before the day closed. Rocket Bomb, the crypto analyst, believes that there is still a chance for BTC to see an uptrend while it hasn’t turned bearish quite yet.

1-Day Bitcoin price analysis (15th June)

Bitcoin Price Chart by Trading View

BTC price fell below the $9000 mark after 06:00 GMT on the 15th of June. The cryptocurrency slowly retraced towards the $9400 mark as the day proceeded towards its end. At the time of writing, Bitcoin was observed trading at $9420.61 US Dollars.

Bitcoin price movement; what’s next?

Talking about their technical analysis of the BTCUSD pair, Rocket Bomb implied that BTC may still have a potential for an uptrend. The analyst has depicted two scenarios for the cryptocurrency.

Bitcoin Price Chart by Trading View

On the weekly chart, the crypto analyst showed that BTC may either rise above the $10422 resistance that it tested twice over the past 16 months. If the cryptocurrency gathers enough momentum to break past the resistance, then the coin’s price will soar towards the $13000 level.

Bitcoin Price Chart by Trading View

On the daily chart, the Rocket Bomb depicted two protracted growths before June 2019 and June 2020. The protracted growth was followed by a downward curve, after which the price soared up on the charts. The crypto analyst is of the opinion that the pattern may be repeated during June 2020. If the pattern repeats, then Bitcoin will see another rally similar to that from 2019.

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.