On the 12th of June, the Bitcoin price line moved past the $9520 mark before observing a short rollback towards the $9320 level.
The king of cryptocurrency is currently trying to fix above a nearby support level as the BTC market dominance continues to increase. The BTCUSD pair traded within a day’s range of $9240 — $9540.
1-Day Bitcoin price analysis (12th June)
Bitcoin Price Chart by Trading View
Bitcoin traded at $9469.81 US Dollars at the time of writing. The cryptocurrency had fallen towards the $9320 level, after which it moved past the $9440 mark. The cryptocurrency observed a day’s high of $9542.17 US Dollars.
Bitcoin price movement; what’s next?
Rocket Bomb is a TradingView analyst who suggested that the BTC price is attempting to fix near the support level at $9450.
Bitcoin Price Chart by Trading View
The analyst believes that if there are no breakdowns of any support levels in the current trading situation, then the BTCUSD pair might see an uptrend in the future.
As this idea played, cryptocurrency king observed a rollback towards the $9380 mark, while the range lies below the support level drawn in the chart above. The brief price fall caused the altcoin market to exhibit their fair share of loss as well. BTC price has returned above the $9450 support for now.
For the case of an uptrend, Rocket Bomb has drawn three price targets in the upward move; $9550, $9580, and $9600.
Nagihatoum is another TradingView analyst who has highlighted a rising wedge pattern on the BTCUSD charts.
Bitcoin Price Chart by Trading View
The analyst suggests that BTC will retest the $9450 level mark soon if it holds the support level before breaking below it.
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.
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