Bitcoin (BTC) Price Forecast: BTC/USD Rebounds as Bitcoin Retraces $40,000 High

Bitcoin (BTC) Price Forecast – June 15, 2021 BTC/USD price is making positive moves towards previous highs as Bitcoin regains $40,000. The bulls need to convincingly hold the resistance above $40,000. Currently, BTC price is fluctuating above and below the resistance level. This will be the first time; Bitcoin will break the $40,000 price level since May 20. Can the bulls sustain the bullish momentum? Resistance Levels: $45,000, $46,000, $47,000 Support Levels: $35,000, $34,000, $33,000 Bitcoin Now Bitcoin (BTC) has corrected to the downside since May 19. On June 12 and June 13, BTC price tested the $35,000 support, resulting in a recovery above it. current support. The rebound launched the coin to a resistance of $39,000. After two days of correction below the resistance, BTC price broke the resistance and climbed above $40,000. Buyers have yet to maintain their bullish momentum above the recent high. On the bright side, if buyers retrace the $40,000 support, Bitcoin will rally to $46,000. The bullish momentum will extend to $50,000 where it will face resistance. Conversely, if buyers fail to push back the $40,000 support, the BTC price will drop for a few more days and drop between $30,000 and $40,000. Remittance Firms Have Not Decided to Support BTC Despite Legal Bidding in El Salvador, Bitcoin Recognizes Highs of $40,000 Recently, El Salvador has legalized Bitcoin as legal tender. According to reports, remittance companies operating in El Salvador are reluctant to support Bitcoin despite the country's new law. Parliament passed a law mandating crypto assets as legal tender, but local remittance companies are reportedly hesitant to accept Bitcoin. According to analyst Kenneth Suchoski of Autonomous Research, fintech has stated that money transfer companies may not support Bitcoin and other crypto assets until customers request it. These restrictions will create a dead end for the locomotive.

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