Bitcoin Price Prediction: BTC/USD Swings Above $38,000 ByAzeez MustaphaPRO INVESTOR Updated: 03 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. 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 Price Prediction – June 3 The Bitcoin price restarts the uptrend after crossing above the critical barrier of $35,000 to touch the daily high of $39,489. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $47,000, $50,000, $53,000 Support Levels: $30,000, $27,000, $24,000 BTCUSD – Daily Chart BTC/USD looks green today as the price hovers above the resistance level of $38,000 from the low of $37,184. However, a daily close above the $39,000 level can continue to increase the Bitcoin price to $42,000. At the moment, all eyes focus on the next hurdle at $40,000. However, traders should note that a consistent price increase would encourage more investors to join the market as bulls increase their positions. Bitcoin Price Prediction: Price May Break Higher At the time of writing, the Bitcoin price is moving marginally at its current price of $38,974 with two straight bullish days. According to the daily chart, this marks a meaningful climb from the opening price of $37,581 level, therefore, it is important to note that the current movement marks a bull-favoring break above the 9-day and moving average and could also climb above the 21-day moving average as well. Nevertheless, if the market decides to fall below the 9-day moving average, the Bitcoin price could go below the lower boundary of the channel, and if that barrier fails to hold the sell-off, traders could see a serious decline towards the support levels of $30,000, $27,000, and $24,000 respectively. All the same, any further bullish movement above the 9-day and 21-day moving averages may reach the resistance level at $47,000, $50,000, and $53,000 as the Relative Strength Index (14) moves to cross above 50-level, suggesting more bullish signals into the market. BTC/USD Medium – Term Trend: Ranging (4H Chart) According to the 4-hour chart, the Bitcoin price is hovering above the 9-day and 21-day moving averages. However, intraday trading is still looking bullish as a cross above the upper boundary of the channel could hit the resistance level at $42,000 and above. BTCUSD – 4 Hour Chart 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 On the contrary, if the buyers failed to keep pushing the market upward, traders can expect a retreat at the $36,000 support level, and breaking this level may further push the price below the 9-day and 21-day moving averages to reach the support level of $36,500 and below. Meanwhile, the Relative Strength Index (14) is seen moving above 60-level to enter into the overbought region. Buy Bitcoin Now Join Our Telegram channel to stay up to date on breaking news coverage