empty
 
 
10.06.2021 04:25 PM
Bitcoin Analysis for 10 June, 2021

This image is no longer relevant

  • Bitcoin price analysis highlights BTC bull's unanimous action to defend $33,000.
  • Failure to break down past $33,000 ensured Bitcoin surges close to $38,000.
  • Critical technical indicators gradually improve, validating Bitcoin's bull run.

During today's early morning trading session, Bitcoin soared to hit an intraday high of $38,250. The milestone comes when the global banking supervisor, Basel Committee, proposed new measures for financial institutions, indicating it is ready to take Bitcoin seriously.

The last few days have seen Bitcoin register significant price rebounds. Going by the recent price surge, crypto pundits argue that the short-term down surge from $64,800 might be complete. This is due to the failure of the king crypto to break down past the $31,000 support level. At the time of writing, Bitcoin is exchanging hands at around $37,400 butwith an immediate focus of $39,500. Interestingly, the immediate focus happens to be Bitcoin's immediate resistance level.

If the crypto coin breaks above this level, Bitcoin would be free to rally towards the 38.2 percent Fibo retracement region that ranges between $43,970 to $64,830. If all things remain constant, there is a high likelihood that Bitcoin could surge towards the 61.8 percent Fibo retracement level at around $51,930.

According to Bitcoin's 4-hour chart, critical technical indicators validate the ongoing bullish momentum. For instance, the Moving Average Convergence Divergence recently turned bullish, authenticating Bitcoin's recent surge from $33,000 to $38,000. At present, the MACD line is teetering above the signal line, indicating Bitcoin is in for further upward price movements. It is worth noting that the more Bitcoin remains in the positive zone, the more investors will be encouraged to buy the coin, thereby extending the coin's bullish outlook.

Jan Novotny,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $8000 अधिक!
    में मार्च हम आकर्षित करते हैं $8000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback