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Bitcoin (BTC) Price Prediction for June 29
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Bitcoin (BTC) rate has dropped by 0.66% in the last 24 hours.
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On the hourly chart, BTC price is trying to break the local resistance level of $61,128. If this happens, the upward movement could continue up to the $61,500 area.
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Despite the slight rise today, the overall technical picture on the daily time horizon remains bearish. At the moment, attention should be paid to the vital $60,000 zone.
In case of a breakout, the accumulated energy could be enough for a break of support, followed by a test of $58,000.
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From a medium-term perspective, one should focus on the weekly close of the candle. If it occurs away from $59,112, there is a possibility of seeing a bounce towards the $62,000 area soon.
At the time of writing, Bitcoin is trading at $61,062.
About the author
Denys Serhiichuk
With more than 5 years of trading experience, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his own blog on TradingView where he publishes all the relevant information and makes predictions about the best coins.
Therefore, his experience is supported by work in major blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, which can be contacted at Denis.serhiichuk@u.today.