Search Inside Bitcoins

Bitcoin Price Prediction: BTC/USD Price Hunts for $34,000

Join Our Telegram channel to stay up to date on breaking news coverage

Bitcoin Price Prediction – June 27

Bitcoin price is fighting to hold above the $32,000 but overhead pressure continues to make this task a difficult one for the bulls.

BTC/USD Long-term Trend: Bearish (Daily Chart)

Key levels:

Resistance Levels: $38,000, $40,000, $42,000

Support Levels: $28,000, $26,000, $24,000

BTCUSD – Daily Chart

At the time of writing, BTC/USD is seeking support above $32,000 to avoid extending the bearish leg to $30,000. The 9-day moving average is also a key level in the mission to avert the losses, perhaps reverse the trend for gains heading to $35,000. Alternatively, the BTC bulls need to find acceptance above the intraday high of $33,590 to refuel the recovery momentum.

Bitcoin Price Prediction: Can Bitcoin Price Go Higher?

The Bitcoin price is stable above $32,500 as it is currently attempting an upside break above the 9-day and 21-day moving averages. Meanwhile, a close above $34,000 could open the doors for a larger increase in the coming sessions as BTC/USD is slowly moving higher towards the $34,000 resistance level. However, the key resistance level may be located around $36,000, while the bulls could hit the potential resistance at $38,000, $40,000, and $42,000 in the near term.

On the other hand, if there is no clear break above $33,000, there are chances of a fresh decline. However, as the 9-day MA remains below the 21-day MA, the coin may stay within the negative side and initial support is near the $30,000 level. The main support is now forming near the $31,000 level, below which the price could dive towards the supports of $28,000, $26,000, and $24,000 as the technical indicator Relative Strength Index (14) remains above the 40-level.

BTC/USD Medium – Term Trend: Ranging (4H Chart)

On the 4-hour chart, a retest of $32,900 gives the impression that the bulls are not yet done with the market movement. The Bitcoin price rises to fill a significant gap as the bulls may take the coin towards the $33,000. In a short time, the Bitcoin price may hit $34,000 if the bullish pressure continues. Otherwise, the price may revisit the supports of $31,000 and below.

BTCUSD – 4 Hour Chart

On the upside, a bullish move may hit the resistance at $35,000 and above. As of now, the Relative Strength Index (14) is moving below 50-level, this could mean that the Bitcoin price may still trade downward.

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provider

Join Our Telegram channel to stay up to date on breaking news coverage

Read next


Can This New Token Presale 100x?

Can This New Token Presale 100x?

Can This New Token Presale 100x?