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The king of cryptocurrency Bitcoin BTC appears to be stabilizing after the Bitcoin price moved in a breakout range between $8700 to $9350. Bill Charison, the crypto analyst, believed that the price line would fall towards $8925.
1-Day Bitcoin price analysis (30th June)
Bitcoin price chart by Trading View
Bitcoin traded at $9114.55 US Dollars at the time of writing. While the day’s low was observed near $9060 point. In the past 24-hours, BTC price has managed to stay above the $9000 mark.
Will Bitcoin price fall to $8925 next?
Bill Charison is a TradingView analyst who expected BTC price to fall to a downtrend next. The analyst explained that the cryptocurrency had broken above the $9175 resistance; however, the retest for this resistance level failed, and the price fell towards the $9100 mark on 30th June.
Bitcoin price chart by Trading View
As per the idea, the price line was supposed to fall towards the $9065 mark because of a descending channel, similar to the one that was formed on 28th June that led the price to the $9050 mark.
The analyst also expected that the price would further fall towards the $8925 resistance after BTC price failed to move past the $9175 resistance.
At the time of writing, the cryptocurrency appears to trade just below the $9175 resistance with no rollbacks towards the $9000 mark or below it.
What to expect from Bitcoin’s price movement?
Kinnari Parajapati, another TradingView analyst, suggests that the BTCUSD pair will form a curve pattern up next on the hourly channel.
Bitcoin price chart by Trading View
The analyst referred to the $8700 to $9350 range as the breakout range, and they suggested that the price will move in a curve pattern in the said trading range.
If the price moves above the $9350 mark, the breakout is expected to be explosive, while the breakout near $8700 is also important if BTC price falls below the range. However, chances for BTC price to breakdown are lower as per the crypto analyst.
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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Johnson Go
Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.
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