Bitcoin Price Prediction: BTC/USD Yet to Reclaim $36,000

Bitcoin Price Prediction
Bitcoin Price Prediction

Bitcoin Price Prediction – June 30

At the moment, BTC/USD is seen dropping over 4.42% within 24 hours as it trades around the $34,319 level.

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

Key levels:

Resistance Levels: $42,000, $44,000, $46,000

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

Bitcoin Price Prediction
BTCUSD – Daily Chart

The daily chart reveals that BTC/USD failed to break above the previous resistance level of $36,094 as the Bitcoin price begins the day off by trending lower toward the $34,000 level inside the channel. However, the first support level is located at $30,000. Beneath this, support lies at $28,000, $26,000, and $24,000 levels.

Bitcoin Price Prediction: Can Bitcoin Price Retest $36,000?

Today’s trading marks another day that the Bitcoin price fails to stay above the 21-day moving average as it looks to set up another few days of negative price declines beneath $34,000. Meanwhile, a break above the opening price of $35,906 would have set the first digital asset up to reach the nearest resistance at the $36,500 level. In other words, traders can clearly see Bitcoin fails to break up as the technical indicator Relative Strength Index (14) is facing the downside.

Today, the Bitcoin price couldn’t go higher as it is seen dropping towards the 9-day moving average. Although the candle is still yet to close and it does not look like the bulls may end up closing above the upper boundary of the channel. Moreover, should the technical indicator moves below 45-level, the market price may end within the negative side but on the contrary, moving towards the upside could meet the resistance levels at $42,000, $44,000, and $46,000.

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

Looking at the 4-hour chart, the bears are seen coming back into the market as the bulls failed to defend the $36,485. However, the $32,500 and below may come into play if the bearish momentum increases the market movement.

BTCUSD – 4 Hour Chart

Furthermore, if the buyers hijack the current movement and push it upward, traders may expect a retest at a $35,000 resistance level; breaking this level may further allow the bulls to hit $36,000 and above. At the moment, the technical indicator Relative Strength Index (14) signal line is seen moving below 50-level which could give additional bearish signals in the near future.

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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.

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