BitcoinShort
Bitcoin Price Analysis — June 7
Bitcoin has suffered another false breakout near $32,000, triggering a market-wide liquidation as it fell by over 6%. The cryptocurrency has since regained stability under $30,000, as it returned its month-long range between $30,300 and $28,700.
Notably, the 4-hour stochastic indicator shows that the bearish slowdown occurred as BTC hit sub-neutral levels. This suggests that we could record a mild recovery towards $30,300 in the coming hours. Regardless, the possibility of another bearish wave remains present ahead of critical market data releases.
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
Notably, the 4-hour stochastic indicator shows that the bearish slowdown occurred as BTC hit sub-neutral levels. This suggests that we could record a mild recovery towards $30,300 in the coming hours. Regardless, the possibility of another bearish wave remains present ahead of critical market data releases.
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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