#Bitcoin in Range Mode above $20k, Slowing Down Optimistic Bulls
Past Performance of Bitcoin
Bitcoin prices are trading above $20k but within a tight trade range inside the June 19 bull bar. Technically, this is bullish, and there could be further price extensions if prices hold above the $20k psychological level. At press time, Bitcoin is stable in the past trading day but down eight percent in the previous trading week.
#Bitcoin Technical Analysis
There are flashes of strength following the gains of June 19. While buyers may double down, loading on dips above $20 and within the conspicuous bullish engulfing bar of June 19, a clear trend will emerge once there is a conclusive close above $23k. There has been no solid confirmation of last weekend's gains to officially mark the beginning of the next leg up. At present, however, BTC prices are within a narrow trade range though there are encouraging higher highs relative to the lower BB.
What to Expect from #BTC?
Traders are confident of what lies ahead. Nonetheless, there has been no confirmation of last weekend's gains, cementing bulls. Still, an expansion above this week's highs at around $21.8k may trigger demand, possibly lifting Bitcoin towards $23k in the short term.
Resistance level to watch out for: $23k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin prices are trading above $20k but within a tight trade range inside the June 19 bull bar. Technically, this is bullish, and there could be further price extensions if prices hold above the $20k psychological level. At press time, Bitcoin is stable in the past trading day but down eight percent in the previous trading week.
#Bitcoin Technical Analysis
There are flashes of strength following the gains of June 19. While buyers may double down, loading on dips above $20 and within the conspicuous bullish engulfing bar of June 19, a clear trend will emerge once there is a conclusive close above $23k. There has been no solid confirmation of last weekend's gains to officially mark the beginning of the next leg up. At present, however, BTC prices are within a narrow trade range though there are encouraging higher highs relative to the lower BB.
What to Expect from #BTC?
Traders are confident of what lies ahead. Nonetheless, there has been no confirmation of last weekend's gains, cementing bulls. Still, an expansion above this week's highs at around $21.8k may trigger demand, possibly lifting Bitcoin towards $23k in the short term.
Resistance level to watch out for: $23k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
