Bitcoin Price Prediction: BTC/USD Short-term Bears Target At $35,000 ByAzeez MustaphaPRO INVESTOR Updated: 05 June 2021 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. Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Price Prediction – June 4 The Bitcoin price is falling again in a narrow channel after consolidating, but buying interest could pick up if the price approaches $40,000. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $45,000, $50,000, $55,000 Support Levels: $30,000, $25,000, $20,000 BTCUSD – Daily Chart Buy Bitcoin Now During the European session today, BTC/USD started trading from the opening price of $39,248 and now dropping below the support level of $37000 at the time of writing. However, the psychological barrier of $40,000 still serves as the first important resistance within the market and a sustainable move above 9-day and 21-day moving averages may likely push the price towards the resistance level of $40,000. Bitcoin Price Prediction: Will Bitcoin (BTC) Drop More? On the intraday chart, the Bitcoin price breaks below the 9-day and 21-day moving averages, which increased the selling pressure. At the time of writing, BTC/USD is hovering at the support created below the $36,800 and if this is cleared, the sell-off may be extended to $33,000 which is around the 21-day moving average. Meanwhile, the dips to $35,000 are likely to be bought, which means the overall bullish sentiments may prevail. Moreover, if the price moves below the mentioned support, $32,000 could come into focus which served as a support during the previous consolidation period while the critical supports lie at $30,000, $25,000, and $20,000. Looking at the upside, the first resistance may likely come at $40,000 if the king coin rebounded. Once this is done, $43,000 could come back into focus. Further bullish movement may hit the potential resistance levels at $45,000, $50,000, and $55,500 as the Relative Strength Index (14) moves below 45-level. BTC/USD Medium-Term Trend: Ranging (4H Chart) The 4-hour chart shows that the Bitcoin bears are still in play within the market keeping the Bitcoin price below the 9-day and 21-day moving averages. Although BTC/USD has not yet slipped below $35,000, it’s still in the loop of making a bounce back. BTCUSD – 4 Hour Chart Moreover, the Bitcoin price is currently hovering below the 9-day and 21-day moving averages at the time of writing. The upward movement may likely push the price to the nearest resistance of $39,500 and above while the immediate support lies at $35,500 and below. The Relative Strength Index (14) is moving around the 47-level, which indicates sideways movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! Buy Bitcoin Now 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