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How is Bitcoin (BTC) Looking Today?
Bitcoin is currently trading around the $29,000 mark and is looking extremely bullish on lower timeframes. The price has been climbing for the past 24 hours as more spot ETF applications fueled a sentiment boost. Right now, the market is looking green, and it is possible that we might not see that retest of the $25k zone before BTC continues the uptrend. The next target on which everyone has their eyes set on is the $30,000 mark. How BTC will react to that level will gives us clear indication of where the market is headed. Let’s take a quick look at the latest Bitcoin Price Prediction Daily (21-June-2023) to see how things will pan out for BTC in the coming days.
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Analyzing the Charts
If we look at the latest 1-day charts for Bitcoin, the first thing we can notice is that the price finally managed to reclaim the support at $26,600. BTC managed to get above this level on Monday night and since than the price has been moving in a healthy uptrend.
We can also notice that the price is currently trading above the $28,000 mark, which was previously a resistance level during the last breakout of BTC on May, 23rd.
As the price continues to show strong bullish signs, the next level everyone has their eyes set on is the $30,000 mark. If BTC manage to get above this level in the short term, we will see the uptrend continue and bulls will regain the upper hand once again.
On the other hand, if BTC faces rejection here, we can see some more consolidation in the coming week. In that scenario we will also see some momentum for altcoins as BTC continues sideways movement.
Conclusion: What is Next for Bitcoin (BTC)
Bitcoin is currently approaching the $30K zone and it will be interesting to see how the price will react here. Right now, we are expecting the price to hit above $30,000 but still close the day below it. However, if BTC manages to close the daily candle above $30,000, we can expect more bullishness in the coming days. The first level we will be eyeing in that scenario is the $32,000 mark.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.
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