{"id":291017,"date":"2021-06-03T09:36:22","date_gmt":"2021-06-03T13:36:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=291017"},"modified":"2021-06-03T09:40:15","modified_gmt":"2021-06-03T13:40:15","slug":"bitcoin-price-prediction-btc-usd-swings-above-38000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-usd-swings-above-38000","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Swings Above $38,000"},"content":{"rendered":"

Bitcoin Price Prediction – June 3<\/strong><\/p>\n

The Bitcoin price restarts the uptrend after crossing above the critical barrier of $35,000 to touch the daily high of $39,489.<\/p>\n

BTC\/USD Long-term Trend: Bearish (Daily Chart)<\/h2>\n

Key levels:<\/p>\n

Resistance Levels: $47,000, $50,000, $53,000<\/p>\n

Support Levels: $30,000, $27,000, $24,000<\/p>\n

\"Bitcoin<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

BTC\/USD<\/a> 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.<\/p>\n

Bitcoin Price Prediction: Price May Break Higher<\/h2>\n

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.<\/p>\n

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.<\/p>\n

BTC\/USD Medium – Term Trend: Ranging (4H Chart)<\/h2>\n

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.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

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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.<\/p>\n

<\/p>

Buy Bitcoin Now<\/span><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin Price Prediction \u2013 June 3 The Bitcoin price restarts the uptrend after crossing above the critical barrier of $35,000 to touch the daily high […]<\/a><\/div>","protected":false},"author":1742,"featured_media":291021,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-291017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Swings Above $38,000<\/title>\n<meta name=\"description\" content=\"The Bitcoin price prediction restarts the BTC uptrend after crossing above the critical barrier of $35,000 to touch the daily high of $39,489.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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