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Bitcoin (BTC) Price Prediction for June 16

Sun, 16/06/2024 – 15:11

Cover image via U.Today

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The market is trading sideways at the end of the week, according to CoinMarketCap.

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BTC/USD

The price of Bitcoin (BTC) has risen by 0.14% over the past 24 hours.

Image by TradingView

On the hourly chart, the rate of BTC is trying to break the local resistance level of $66,350. If it breaks out, the upward move may continue to the $66,800 zone soon.

Image by TradingView

On the daily time frame, none of the sides has accumulated enough energy for a sharp move. This assertion is also confirmed by falling volume.

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In this case, ongoing consolidation in the zone of $66,000-$68,000 is the more likely scenario.

Image by TradingView

From the midterm point of view, the picture is quite similar. The price of BTC is far from support and resistance levels. Likewise, there are low chances to see sharp ups or downs during the next few days.

Bitcoin is trading at $66,402 at press time.

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