Bitcoin Price Prediction: BTC/USD Price Stagnant Around $9,141 as Bears Begin to Exhaust the Bulls ByAzeez MustaphaPRO INVESTOR Updated: 26 June 2020 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin (BTC) Price Prediction – June 26 The price of Bitcoin is trading in a downward trend for the past few days. The price of Bitcoin as of now is $9,141.05. BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $9,800, $10,000, $10,200 Support Levels: $8,600, $8,400, $8,200 BTCUSD – Daily Chart At the moment, BTC/USD is downgraded and it is trading below $9,200 around the lower boundary of the channel. The price may continue to drop towards $9,000 before it can rise again. The coin is seen trading below the 9-day and 21-day moving averages and now issuing bearish signals within four consecutive trading days on the daily chart. However, in the recent times, Bitcoin is undergoing a prolonged downward correction below the $9,200 level of support, with the coin trading below the $9,150 level and a new weekly low at $9,033.38. The market price is now recovering from $9,033 and exceeded the resistance of $9,100. More so, the BTC/USD is trying to surpass the $9,400 level but the upward movement is limited by the resistance level of $9,300. Moreover, as the technical indicator RSI (14) is moving below 50-level, indicating that the market price could spike below the $9,000 support level and test $8,600, $8,400, and $8,200 respectively. But once the current wave completes, the price of Bitcoin could bounce back above the moving averages and move towards the resistance levels of $9,800, $10,000, and $10,200 in the coming sessions. BTC/USD Medium-Term Trend: Bearish (4H Chart) Looking at the four-hour chart, Bitcoin failed in an endeavor to break above the 9-day moving average within the channel. This is plausibly why the bears are fuelled to push the price to lower levels. Meanwhile, Bitcoin is trading at $9,201.64, although it opened the session at $9,246 and this represents a 0.45% drop on the day. BTCUSD – 4 Hour Chart However, the shrinking volatility in BTC/USD indicates that the downtrend is unlikely to extend further. Besides, $9,000 is key support and if the bulls could not defend this support level, the price may likely test the critical support level of $8,900 and below. In other words, the resistance level of $9,500 and above could be visited if there is a rebound as the technical indicator RSI (14) is seen facing the north. Join Our Telegram channel to stay up to date on breaking news coverage