Bitcoin Price Forecast: BTC/USD Fluctuates Above $38,000

Bitcoin Price Forecast – June 3 Bitcoin price restarts its uptrend after breaking the critical $35,000 barrier and hitting a daily high of $39,489. BTC/USD Long Term Trend: Bearish (Daily Chart) Key Levels: Resistance Levels: $47,000, $50,000, $53,000 Support Levels: $30,000, $27,000, $24,000 BTCUSD – Daily Chart BTC/USD Price Above Resistance $38,000 Looks Green Today, while fluctuating from $37,184. However, a daily close above the $39,000 level could continue to push Bitcoin price towards $42,000. Currently, all eyes are on the next hurdle at $40,000. However, traders should keep in mind that a consistent price increase will encourage more investors to join the market as the bulls increase their positions. Bitcoin Price Forecast: Price Could Break Higher At the time of this writing, Bitcoin price is moving marginally at the current price of $38,974 with two straight bullish days. According to the daily chart, this marks a meaningful climb from the opening price of $37,581. Therefore, it is important to note that the current move points to a bulls-favourite breakout above the 9-day moving average and the price is likely to rise above it. The 21-day moving average is also. However, if the market decides to break below the 9-day moving average, Bitcoin price could drop below the lower border of the channel and if this hurdle does not stop the selling, traders could see a serious drop to the low. Look for support at $30,000, $27,000, and $24,000, respectively. However, any bullish action above the 9- and 21-day moving averages could reach the $47,000, $50,000, and $53,000 resistance levels as the Relative Strength Index (14) rises above the 50 level, signaling more bullishness in the market. BTC/USD Medium-Term Trend: Changing (4-Hour Chart) According to the 4-hour chart, Bitcoin price is hovering above the 9- and 21-day moving averages. However, intraday trading still looks bullish as a cro

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