Bitcoin Price Analysis — June 16
The road ahead remains bumpy for Bitcoin as the benchmark cryptocurrency continues to flirt with the 20K region. At this point, the technicals appear to have taken the passenger seat in the price development around BTC, as macroeconomic factors take control of market dynamics.
Regardless, the 20K level remains a critical blockade against further price declines. The primary cryptocurrency recorded a mild jump to the
23K level yesterday on the US Fed rate hike announcement but gave up its gains in the Asian session today. Also, clarifications made by Saylor on the rumored margin call could go some length to support BTC in the coming days.
Meanwhile, my resistance levels are at $22,000, $23,000, and $24,000, and my key support levels are at $20,000, $19,000, and $18,000.
Total Market Capitalization: $909.9 billion
Bitcoin Market Capitalization: $403.4 billion
Bitcoin Dominance: 44.3%
Market Rank: #1
Regardless, the 20K level remains a critical blockade against further price declines. The primary cryptocurrency recorded a mild jump to the
23K level yesterday on the US Fed rate hike announcement but gave up its gains in the Asian session today. Also, clarifications made by Saylor on the rumored margin call could go some length to support BTC in the coming days. Meanwhile, my resistance levels are at $22,000, $23,000, and $24,000, and my key support levels are at $20,000, $19,000, and $18,000.
Total Market Capitalization: $909.9 billion
Bitcoin Market Capitalization: $403.4 billion
Bitcoin Dominance: 44.3%
Market Rank: #1
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