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Bitcoin (BTC) price prediction for June 8th
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The bears aren’t taking a step back, according to CoinStats.
BTC chart of CoinStats
Bitcoin/USD
The price of Bitcoin (BTC) has decreased by 2.73% in the last 24 hours.
Image by TradingView
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.
Image by TradingView
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.
All in all, the most likely scenario is a sideways trade taking place around the $69,000 mark.
Image by TradingView
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.
About the author
Serhiichuk denies
With more than 5 years of trading experience, Denys has a deep understanding of both technical and fundamental market analysis. Mainly, he started his blog on TradingView where he publishes all the relevant information and makes predictions about the best coins.
Therefore, his experience is supported by working in major blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, who can be contacted at Denis.serhiichuk@u.today.