empty
 
 
15.06.2023 09:05 AM
Technical Analysis of BTC/USD for June 15, 2023

Crypto Industry News:

If you have been following the cryptocurrency market in recent weeks, you have surely noticed that Bitcoin is not having the easiest time. As the indicator by Santiment indicates, investor sentiment is apprehensive and courage is at its lowest levels in many months.

The indicator presented by Santiment shows that the Bitcoin-weighted sentiment has recently shown a significant negative value. This suggests that there is a lot of discussion related to BTC on social media platforms, and the content of published posts is strongly negative. There has not been such negative sentiment since the COVID-19 pandemic in March 2020.

On the one hand, the return of "fear" to the market may be related to reports of actions taken by the Securities and Exchange Commission (SEC) in the United States. They caused some confusion in the market by filing lawsuits against Binance and Coinbase, two giants in the crypto world. As a result, the value of Bitcoin fell from over $27,000 to a multi-month low below $25,000.

It is worth remembering that despite the concerns, Bitcoin is still out of the reach of the SEC. That's why many experts, such as Michael Saylor, president of MicroStrategy, believe that in the current situation, he may prove to be an unexpected winner. He claims that the price of BTC may exceed $250,000.

Technical Market Outlook:

The BTC/USD pair has made a news swing low at the level of $24,833 as the breakout from the range finally occurred. The next target for bears is seen at the level of $23,927. The weak and negative momentum supports the short-term bearish outlook for BTC. The nearest technical resistance is located at the level of $25,442.

This image is no longer relevant

Weekly Pivot Points:

WR3 - $26,597

WR2 - $26,192

WR1 - $25,993

Weekly Pivot - $25,787

WS1 - $25,588

WS2 - $25,383

WS3 - $24,978

Trading Outlook:

The bulls broken above the gamechanging level located at $25,442, so now the mid-term outlook for BTC is bullish. The next target for bulls is seen at the level of $32,350. As long as the level of 19,572 is not clearly violated, there is a chance for a long-term up trend to continue.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback