Bitcoin may continue to decline if it fails to hold onto critical support! June 28 BTC Analysis

  • In the daily technical analysis of Bitcoin, there are downward movements due to the failure to break the resistance level of $31,000.
  • The nearest support zone is at the level of $29,637, and if the BTC price closes below this level, it can extend its decline to the levels of $28,600.
  • If the BTC price manages to stay above the level of $20,600, it can again rise towards the levels of $31,000.

When examining the daily technical analysis of Bitcoin, it can be seen that the resistance level of $31,000 cannot be surpassed and the downward movements continue. By closely monitoring the nearest support level and critical points of the BTC price, important information about market trends can be obtained.

Short-Term BTC Analysis

2-Hour BTC/USD Price Chart
2-Hour BTC/USD Price Chart

When examining the 2-hour technical chart of Bitcoin, it can be seen that it has experienced a decline in the last 2 hours. As long as the BTC price stays above the mentioned support level of $29,900 in the analysis, it can again reach the levels of $30,850.

If the BTC price closes below the level of $29,900 for 4-hour candlesticks, it can extend its decline to the levels of $29,500. Staying above the level of $29,900 is of great importance for altcoins.

In the last 24 hours, the trading volume of Bitcoin has decreased to $14,805,671,682, resulting in a 7.47% decrease today.

Medium-Term BTC Analysis

Daily BTC/USD Price Chart

Daily BTC/USD Price Chart

When examining the daily technical analysis of Bitcoin, it can be seen that it has failed to break the important resistance zone of $31,000, resulting in downward movements. If the BTC price does not make daily closings above the mentioned level of $31,000 in the analysis, it can continue its decline to the levels of $28,600.

The nearest support zone for Bitcoin is at $29,637. If the BTC price closes below the level of $29,637 on a daily basis, it can extend its decline to the levels of $28,600.

However, if the BTC price manages to stay above the level of $20,600, it can again realize the upward movement towards the levels of $31,000.

According to the technical analysis of Bitcoin, the resistance of $31,000, the support level of $29,637, and the critical point of $20,600 are important levels. These levels should be closely monitored.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Mt. Gox Bitcoin Payout Nears: Could $9 Billion BTC Distribution Impact Market?

The impending Mt. Gox Bitcoin payout could mark a pivotal moment for the crypto market. Learn how this historic event might impact Bitcoin prices and what it means for the industry.

What Investors Should Expect as BTC Prepares for Major Supply Shift – After Bitcoin Halving

Explore how the Bitcoin halving in 2024 could transform the cryptocurrency landscape and investment strategies.

Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity's in-depth analysis.

Bitcoin Recovers to $66K: Analysts Debate Future After Halving Dip

Get the latest insights on Bitcoin's price action, analyst predictions, and the potential impact of the recent halving event.

Bitcoin Fees Plummet, EigenLayer Yield Crisis Looms, Telegram Boosts Crypto Adoption – Today’s Crypto Roundup

Get the latest on EigenLayer's potential downturn, Bitcoin's record-breaking fees, and how Telegram is fueling the rise of Web3 in this comprehensive crypto news update.
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity's in-depth analysis.

Litecoin Could Be Preparing for a 20% Rise! Current LTC Analysis

Will Litecoin continue its upward trend? What should LTC investors expect? What are the targets in the current LTC analysis?

Ethereum Might Be Preparing for a Rise! Current ETH Analysis

Ethereum's daily chart has sustained a rise up to $3100 after strong buying in the $2867 - $2950 range. Current ETH Analysis

NEO Launches Uptrend to $25! Current NEO Analysis

Analyzed NEO's 3-hour chart, showing upward trend post $14.80 resistance breakthrough, eyeing $15.18 resistance; potential long positions suggested at $14.636 - $14.448 support range with a stop loss at $13.90, as NEO aims for $25 target amidst over 5% gains.

Is Litecoin Ready to Launch its Rise to $140? Current LTC Analysis

When examining LTC's technical chart, a downward trend is observed in recent days. The nearest support is at the level of 91.86 dollars. The support range between 97.61$ and 99.07$ on the 4-hour chart is significant. For long positions, the support range of 92.41$ - 91.07$ can be expected.
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Mt. Gox Bitcoin Payout Nears: Could $9 Billion BTC Distribution Impact Market?

The impending Mt. Gox Bitcoin payout could mark a pivotal moment for the crypto market. Learn how this historic event might impact Bitcoin prices and what it means for the industry.

What Investors Should Expect as BTC Prepares for Major Supply Shift – After Bitcoin Halving

Explore how the Bitcoin halving in 2024 could transform the cryptocurrency landscape and investment strategies.

Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity's in-depth analysis.