Bitcoin Bulls Overwhelm By Bears As It Trades In a Tight Range above $19k – June 30, 2022
BTC / USD has fallen to the low of $19,317 as it trades in a tight range above $19K. BTC price is stuck below the 21-day line SMA. In the interim, a recovery above the $20,000 psychological price level is doubtful. However, a price rebound will catapult Bitcoin above the moving averages.
Bitcoin kainų statistikos duomenys:
•Bitcoin kaina dabar – 19,268.30 XNUMX USD
•Bitcoin rinkos viršutinė riba – 367,682,441,604 XNUMX XNUMX XNUMX USD
•Apyvartoje esantis bitkoinų kiekis – 19,082,250.00 XNUMX XNUMX BTC
•Bitcoin bendra pasiūla – 404,634,216,284 XNUMX XNUMX XNUMX USD
•Bitcoin Coinmarketcap reitingas – # 1
Atsparumo lygiai: 50,000 55 USD, 000 60,000 XNUMX, XNUMX XNUMX USD
Palaikymo lygiai: $ 25,000, $ 20,000, $ 15,000
Bitcoin’s (BTC) price is trading in a narrow range after the recent breakdown below the $20,000 support. On June 30, Bitcoin dropped to the low of $18,638 and rallied to the high of $20,959. The bullish momentum was repelled as the crypto fell below the $20,000 support. Today, the BTC price is trading in a tight range between $18,800 and $19,900 price levels. On the downside, if the bears break below the $18,800 support, the BTC price will fall and revisit the previous low at $17,605. Similarly, on the upside, if the bulls break the $19,900 resistance and the bullish momentum is sustained, Bitcoin will regain bullish momentum. The largest cryptocurrency is trading at $19,277 at the time of writing.
Bitcoin Will Recover to $28k By December, Deutsche Bank Analysts
Deutsche Bank analysts have based their forecast on the correlation between Bitcoin and S&P 500. The analysts made a forecast of 30% recovery for Bitcoin by December because of its correlation. The analysts, Marion Laboure and Galina Pozdnyakova indicated that the crypto markets have mirrored movements of the Nasdaq 100 and S&P 500 since late 2021. The pair believes that the S&P will rebound to its January levels. In the same vein, Bitcoin’s correlation to the index could result in a 30% increase in value from current levels midway through 2022. In other words, Bitcoin will be up to the $28,000 mark.
Meanwhile, Bitcoin is now fluctuating as it trades in a tight range above $19K. Nevertheless, a Fibonacci tool has indicated a possible decline of Bitcoin below $17,605. On May 12 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that BTC will fall to level 1.618 Fibonacci extension or level $16,647.76.
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Source: https://insidebitcoins.com/news/bitcoin-price-prediction-for-today-june-30-btc-price-trades-in-a-tight-range-above-19k