Bitcoin Price Forecast: BTC/USD Transactions Below $38,000 Resistance

Bitcoin Price Forecast – June 10 Bitcoin price is currently down 1.21% after hitting a daily high of $38,425, now heading towards the $36,000 support. BTC/USD Long Term Trend: Bearish (Daily Chart) Key Levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $30,000, $28,000, $26,000 BTCUSD – Daily Chart Daily chart, previous BTC/USD It shows that it failed to break the $38,000 resistance level to break with the current consolidation pattern. As bitcoin price fails to stay above the $38,400 level, the coin is likely to see a sharp decline below the 9- and 21-day moving averages. However, the red line of the 9-day MA has not yet risen above the green line of the 21-day MA as the Relative Strength Index (14) has dropped below the 45 level. Bitcoin Price Forecast: BTC Could Build Momentum to Push Bulls Higher The daily chart shows that Bitcoin price refuses to move above the $37,000 resistance level, as the coin could see negative price drop for a few more days below this level. Therefore, the first level of support is around $35,000. Below that, support is at the $30,000, $28,000, and $26,000 levels. Meanwhile, a break above the previous $37,500 level could cause Bitcoin to retest the $38,000 level. Want to buy or trade Bitcoin (BTC) now? Invest with eToro! Buy Bitcoin Now 75% of retail investor accounts lose money when trading CFDs with this provider. As of writing these lines, Bitcoin price is likely to retest the lower boundary of the channel amid the $36,000 level, which could become new support. We can also clearly see that the Bitcoin price could drop below the 9- and 21-day moving averages. BTC/USD hit $38,425 today but continued to roll and slide below the $37,000 level. However, although the candle has not closed yet, it seems highly unlikely that the bulls will eventually close above this level. Moreover, upside resistance levels are $44,000, $46,000,

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