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Bitcoin Price Analysis — June 7 (Daily Chart)
As mentioned earlier, Bitcoin suffered another sharp rejection near the 32K in an all too familiar false breakout. However, the price rejection got repelled by the 29.5K support level, which prevented a sustained correction and stabilized the price after the dip.
That said, BTC is not out of the woods yet as analysts expect a dramatic slump in the coming days, ahead of several market-moving data and announcements. The benchmark cryptocurrency could revisit May 12 low near 24K if it fails to hold the 28.7K pivot base.
Meanwhile, my resistance levels are at $30,000, $30,300, and $31,000, and my key support levels are at $29,500, $29,000, and $28,000.
Total Market Capitalization: $1.23 trillion
Bitcoin Market Capitalization: $569.9 billion
Bitcoin Dominance: 46.4%
Market Rank: #1
That said, BTC is not out of the woods yet as analysts expect a dramatic slump in the coming days, ahead of several market-moving data and announcements. The benchmark cryptocurrency could revisit May 12 low near 24K if it fails to hold the 28.7K pivot base.
Meanwhile, my resistance levels are at $30,000, $30,300, and $31,000, and my key support levels are at $29,500, $29,000, and $28,000.
Total Market Capitalization: $1.23 trillion
Bitcoin Market Capitalization: $569.9 billion
Bitcoin Dominance: 46.4%
Market Rank: #1
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