{"id":291068,"date":"2021-06-04T04:52:34","date_gmt":"2021-06-04T08:52:34","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=291068"},"modified":"2021-06-04T05:09:51","modified_gmt":"2021-06-04T09:09:51","slug":"bitcoin-btc-price-prediction-btc-usd-is-ranging-as-bitcoin-consolidates-above-34000","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-btc-price-prediction-btc-usd-is-ranging-as-bitcoin-consolidates-above-34000","title":{"rendered":"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction – June 4, 2021<\/h2>\r\n

About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, BTC\/USD<\/a> is falling toward the direction of the lower price range. Since buyers fail to break the $40,000 resistance, sellers have another advantage to retest the critical support at $34,000. This has been the price tussle since May 19 downtrend. The breaking of these range-bound levels will determine the direction of Bitcoin.

Resistance Levels: $45,000, $46,000, $47,000
Support Levels: $35,000, $34,000, $33,000<\/p>\r\n

\"\"<\/a>
BTC\/USD – Daily Chart<\/figcaption><\/figure>\r\n

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!<\/strong><\/p>\r\n

 <\/p>\r\n

Buy Bitcoin Now<\/span><\/a><\/div>\r\n

 <\/p>\r\n

75% of retail investor accounts lose money when trading CFDs with this provider<\/em><\/p>\r\n

For the past two weeks, Bitcoin<\/a> has been confined in a tight price range between $34,000 and $40,000. Within the past weeks, buyers have made concerted efforts and retested the resistance zone on six occasions without success. The bears have made similar attempts to break the current support. It is unclear which direction Bitcoin will trend as bulls and bears continue price tussles. In a nutshell, if the bears break the $34,000 support, Bitcoin will fall to $30,000 low. Subsequently, the bearish momentum may extend to $20,000. On the other hand, if buyers break the $40,000 resistance, an initial rally to $46, 000 is likely. Later, the bullish momentum will extend to the $50,000 psychological price level.<\/p>\r\n

Bitcoin Price Downtrend Is Not over, Says JP Morgan Strategist as Bitcoin consolidates above $34,000<\/h2>\r\n

Nikolaos Panigirtzoglou is the JPMorgan analyst who indicated that Bitcoin value may stand between $24,000 and $36,000. He said the largest cryptocurrency is likely to continue falling in the short term. Categorically, he asserted that weakened institutional demand is likely to drag the Bitcoin price below $30,000. Panigirtzoglou has indicated that institutional investors are reluctant to buy the dips after May 19 major crypto crash. He said: “We note that the mere rise in volatility, especially relative to gold, is an impediment to further institutional adoption as it reduces the attractiveness of digital gold vs. traditional gold in institutional portfolios”. The strategist believes in the $145,000 “theoretical target” for BTC’s price. He said: “The fair value for Bitcoin based on the current volatility ratio of Bitcoin to the gold of around x6 would be 1\/6th of $145k or $24k. We thus see a fair value range of $24k to $36k over the medium term,”<\/p>\r\n

\"\"<\/a>
BTC\/USD – 4 Hour Chart<\/figcaption><\/figure>\r\n

Meanwhile, Bitcoin price is range bound between $34,000 and $40,000 since May 19. Bitcoin will resume up trending or down trending if the key price levels are broken. Incidentally, the king coin will continue its range-bound movement if key price levels remain unbroken. In the meantime, BTC’s price has continued its downward move.

<\/p>\r\n

Looking to buy or trade Bitcoin (BTC) now? Invest at eToro!<\/strong><\/p>\r\n

 <\/p>\r\n

Buy Bitcoin Now<\/span><\/a><\/div>\r\n

 <\/p>\r\n

75% of retail investor accounts lose money when trading CFDs with this provider<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 June 4, 2021 About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. […]<\/a><\/div>","protected":false},"author":1742,"featured_media":291093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[734,5319,7812,7632],"acf":[],"yoast_head":"\nBitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000<\/title>\n<meta name=\"description\" content=\"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000\" \/>\n<meta property=\"og:description\" content=\"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-04T08:52:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T09:09:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2021\/06\/BTC-Insidebitcoin-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"863\" \/>\n\t<meta property=\"og:image:height\" content=\"553\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Azeez Mustapha\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ItuGlobal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azeez Mustapha\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\"},\"author\":{\"name\":\"Azeez Mustapha\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\"},\"headline\":\"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000\",\"datePublished\":\"2021-06-04T08:52:34+00:00\",\"dateModified\":\"2021-06-04T09:09:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\"},\"wordCount\":527,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"keywords\":[\"Bitcoin\",\"btc\",\"BTC\/USD\",\"Price Analysis\"],\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\",\"name\":\"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/#website\"},\"datePublished\":\"2021-06-04T08:52:34+00:00\",\"dateModified\":\"2021-06-04T09:09:51+00:00\",\"description\":\"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\"]}],\"primaryImageOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/insidebitcoins.com\/#website\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"name\":\"InsideBitcoins.com\",\"description\":\"Search & Compare Brokers within Crypto, Forex & Stocks\",\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/insidebitcoins.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/insidebitcoins.com\/#organization\",\"name\":\"InsideBitcoins\",\"url\":\"https:\/\/insidebitcoins.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"contentUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg\",\"width\":195,\"height\":32,\"caption\":\"InsideBitcoins\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8\",\"name\":\"Azeez Mustapha\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg\",\"caption\":\"Azeez Mustapha\"},\"description\":\"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. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and CryptoSignals.org.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/azeez-mustapha-0825565b\/\",\"https:\/\/twitter.com\/ItuGlobal\"],\"url\":\"https:\/\/insidebitcoins.com\/news\/author\/azeezmustaph\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000","description":"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f","robots":{"max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068","og_locale":"en_US","og_type":"article","og_title":"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000","og_description":"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f","og_site_name":"InsideBitcoins.com","article_published_time":"2021-06-04T08:52:34+00:00","article_modified_time":"2021-06-04T09:09:51+00:00","og_image":[{"width":863,"height":553,"url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2021\/06\/BTC-Insidebitcoin-2.png","type":"image\/png"}],"author":"Azeez Mustapha","twitter_card":"summary_large_image","twitter_creator":"@ItuGlobal","twitter_misc":{"Written by":"Azeez Mustapha","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#article","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068"},"author":{"name":"Azeez Mustapha","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8"},"headline":"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000","datePublished":"2021-06-04T08:52:34+00:00","dateModified":"2021-06-04T09:09:51+00:00","mainEntityOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068"},"wordCount":527,"commentCount":0,"publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"keywords":["Bitcoin","btc","BTC\/USD","Price Analysis"],"articleSection":["More Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#respond"]}],"copyrightYear":"2021","copyrightHolder":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage"}},{"@type":"WebPage","@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068","url":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068","name":"Bitcoin (BTC) Price Prediction: BTC\/USD Is Ranging as Bitcoin Consolidates above $34,000","isPartOf":{"@id":"https:\/\/insidebitcoins.com\/#website"},"datePublished":"2021-06-04T08:52:34+00:00","dateModified":"2021-06-04T09:09:51+00:00","description":"About 24 hours ago, Bitcoin bulls failed to sustain above the $40,000 as Bitcoin consolidates above $34,000. Consequently, Bitcoin is f","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068"]}],"primaryImageOfPage":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage"},"image":{"@id":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068#primaryimage"}},{"@type":"WebSite","@id":"https:\/\/insidebitcoins.com\/#website","url":"https:\/\/insidebitcoins.com\/","name":"InsideBitcoins.com","description":"Search & Compare Brokers within Crypto, Forex & Stocks","publisher":{"@id":"https:\/\/insidebitcoins.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/insidebitcoins.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/insidebitcoins.com\/#organization","name":"InsideBitcoins","url":"https:\/\/insidebitcoins.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/","url":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","contentUrl":"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/07\/insidebitcoins.svg","width":195,"height":32,"caption":"InsideBitcoins"},"image":{"@id":"https:\/\/insidebitcoins.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/0e3e45af228d02da2a4f4ff4b82454b8","name":"Azeez Mustapha","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/insidebitcoins.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/368a1c3ea65da09a1128621f280ad865?s=96&d=mm&r=pg","caption":"Azeez Mustapha"},"description":"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. Azeez provides daily articles covering the price movements of major cryptocurrencies, and has contributed to a range of respected publications and trading magazines. Find his other published work on Learn2.trade, and CryptoSignals.org.","sameAs":["https:\/\/www.linkedin.com\/in\/azeez-mustapha-0825565b\/","https:\/\/twitter.com\/ItuGlobal"],"url":"https:\/\/insidebitcoins.com\/news\/author\/azeezmustaph"}]}},"modified_by":"Azeez Mustapha","_links":{"self":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068"}],"collection":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/users\/1742"}],"replies":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/comments?post=291068"}],"version-history":[{"count":0,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/291068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media\/291093"}],"wp:attachment":[{"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/media?parent=291068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/categories?post=291068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/tags?post=291068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}