Bitcoin (BTC) Price Analysis for June 13

Bitcoin 38 m

Bulls could not hold the gained initiative as some coins have returned to the red zone.

Bitcoin (BTC) Price Analysis for June 130

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The rate of Bitcoin (BTC) has increased by 0.81% since yesterday.

Bitcoin (BTC) Price Analysis for June 131

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Despite today’s rise, the rate of Bitcoin (BTC) has made a false breakout of the local resistance level at $26,269. If the drop continues, the decline can lead to the test of the support at $25,826. Such a scenario is relevant until tomorrow.

Bitcoin (BTC) Price Analysis for June 132

On the bigger time frame, bears are also about to seize the initiative as the daily candle is about to close below the $26,000 zone. In this regard, that might be a prerequisite for an ongoing correction to the closest support level at $25,389.

Bitcoin (BTC) Price Analysis for June 133

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From the midterm point of view, it is too early to make any predictions as a lot of time remains before the bar closure.

However, if the breakout of $25,389 happens, the accumulated energy might be enough for a more profound decline to the $24,500-$25,000 area.

Bitcoin is trading at $25,813 at press time.


Updated: 06/13/2023 — 15:00

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