#Bitcoin Flatlines amid Optimism, will BTC Hold above $20k
Past Performance of Bitcoin
Bitcoin prices are still within a narrow trade range at spot rates. The rejection of lower prices on June 28 is bullish for prices, reinforcing bulls' optimism. Still, there must be solid, wide-ranging gains in the coming few days for a clear trend definition. In the short term, the Bitcoin uptrend is valid as long as prices are above $20k, a psychological level, and $19.7k, the June 23 lows. Currently, Bitcoin is steady in the last trading day and week.
#Bitcoin Technical Analysis
As per the Bitcoin candlestick arrangement in the daily chart, BTC prices are steady, floating above the $20k level. While buyers stand a chance, there must be a conclusive close above $22k—last week's highs—and later, $23k for confirmation of the bullish engulfing bar of June 19. Nonetheless, at spot rates, traders may find entries in lower time frames, loading the dips above $20k and $19.7k with targets at $22k and $23k. A sharp, unexpected flash crash below the lower limit of our support zone will invalidate the bullish preview for Bitcoin.
What to Expect from #BTC?
Buyers are optimistic. The problem is that trading volumes are relatively low. Moreover, buyers have not been able to close above $22k, the first liquidation level. Still, that prices are steadying above the psychological support level at $20k is bullish for traders.
Resistance level to watch out for: $22k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin prices are still within a narrow trade range at spot rates. The rejection of lower prices on June 28 is bullish for prices, reinforcing bulls' optimism. Still, there must be solid, wide-ranging gains in the coming few days for a clear trend definition. In the short term, the Bitcoin uptrend is valid as long as prices are above $20k, a psychological level, and $19.7k, the June 23 lows. Currently, Bitcoin is steady in the last trading day and week.
#Bitcoin Technical Analysis
As per the Bitcoin candlestick arrangement in the daily chart, BTC prices are steady, floating above the $20k level. While buyers stand a chance, there must be a conclusive close above $22k—last week's highs—and later, $23k for confirmation of the bullish engulfing bar of June 19. Nonetheless, at spot rates, traders may find entries in lower time frames, loading the dips above $20k and $19.7k with targets at $22k and $23k. A sharp, unexpected flash crash below the lower limit of our support zone will invalidate the bullish preview for Bitcoin.
What to Expect from #BTC?
Buyers are optimistic. The problem is that trading volumes are relatively low. Moreover, buyers have not been able to close above $22k, the first liquidation level. Still, that prices are steadying above the psychological support level at $20k is bullish for traders.
Resistance level to watch out for: $22k
Support level to watch out for: $20k
Disclaimer: Opinions expressed are not investment advice. Do your research.
