Technical Analysis for BTCUSD for 20th June 2023
Bitcoin Bulls Confident, BTC Likely to Pierce above $27.3k
Past Performance of BTC
Bitcoin Technical Analysis
BTC prices are choppy and volatile when writing. Despite recent gains, there must be a comprehensive close above $27.3k with expanding volumes for the buyers of June 6 to be valid. Before then, conservative traders can watch from the sidelines. A wide-ranging bull bar with expanding volumes breaching $27.3k may signal trend continuation and a possible rally toward April highs at $31k. Meanwhile, aggressive, risk-off traders can load on dips above $26k, targeting June 6 highs of $27.3k.
What to Expect from BTC
Overall, the path of least resistance is upwards, reading from the BTCUSDT candlestick arrangement in the daily chart. BTC prices are still within a bull flag, and buyers are beginning to assert themselves. Only once there are gains above June 5 and 6 can buyers confidently load, expecting even more gains ahead.
Resistance level to watch: $27.3k
Support level to watch: $26k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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