News
Bitcoin (BTC) price prediction for June 8th
Cover image via U.Today
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Conduct your research by contacting financial experts before making any investment decisions. We believe all content is accurate as of the date of publication, but some offers mentioned may no longer be available.
The bears aren’t taking a step back, according to CoinStats.
Bitcoin/USD
The price of Bitcoin (BTC) has decreased by 2.73% in the last 24 hours.
On the hourly chart, the BTC rate is located in the center of the narrow channel. Buyers might start thinking about an upward move only if they restore the price to the $69,500 zone. In this case, there is a possibility that a resistance breakdown will occur.
On the daily front the situation has not changed compared to yesterday. Neither bulls nor bears are dominating, which means sharp moves are unlikely to occur anytime soon.
Related
All in all, the most likely scenario is a sideways trade taking place around the $69,000 mark.
From a medium-term perspective, BTC price once again failed to break above the $70,000 zone. Although the rate is below that threshold, a correction in the $66,000 range can be expected.
As of this writing, Bitcoin is trading at $69,349.