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.
