Bitcoin (BTC) Price Prediction – June 28
The price of Bitcoin is seen trading nicely above the $9,100 and the coin may need to climb above the $9,500 resistance to continue higher.
BTC/USD Long-term Trend: Bullish (Daily Chart)
Resistance Levels: $9,600, $9,800, $10,000
Support Levels: $8,600, $8,400, $8,200
BTC/USD bulls may slowly come back into action after a minor battering from the bears a few days ago. If this happens, then the expectation of recovery could turn out to be true. Today, BTC/USD is seen trading at $9,132 after soaring to $9,170.58. The coin is then pulling back to where it is trading currently and may continue to head upwards if the bulls maintaining the trend.
However, the market is deciding below the 9-day and 21-day moving averages, where the buyers and sellers are anticipating a clear breakout or breakdown. Meanwhile, the $9,300 and $9,500 levels may further surface as the key resistances should the $9,200 level come to play. However, a strong bullish spike may take the price to $9,600, $9,800, and $10,000 resistance levels.
Moreover, if the market makes a quick turn back to the south, the BTC/USD price may likely drop to $9,000, and should this support fails to contain the sell-off, traders may see a further roll back to $8,600, $8,400, and critically $8,200. The technical indicator RSI (14) suggests an upward movement for the coin as it faces the north.
BTC/USD Medium-Term Trend: Bearish (4H Chart)
The 4-hour chart for BTC is still looking bullish, but the market has been showing a sign of weakness after some periods that the market opens today. However, the intraday trading is now looking bearish; following the recent downtrend to $8,824 which is now a key support level. The potential support levels lie at $8,900, $8,700, and $8,500.
Considering the recent early rebound, the Bitcoin price may re-enter the bullish rally to $9,200 resistance. Meanwhile, a climb above the mentioned resistance may further push BTC price to $9,400, $9,600, and $9,800 resistance levels. As it appeared now, it seems the bears may likely return into the market as the RSI (14) moves below 46-level which could trigger the downward direction.