Bitcoin Price Update: June 17, 2021

Bitcoin price has been ranging in between $30,000 and $41,000 and still there is required a huge volume candle for a proper breakout.

BTC is still ranging in the 33-42k region, you can see a beautiful rejection from the 40-41k levels, this is also where the 200EMA (4H) acted as a resistance, and we saw a reversal from it. On the 4H chart, we see that the 55 and 100EMA’s are acting as supports, (37.8-38k) are the levels that should hold for us to see a bounce.bitcoin

The daily chart looked good till yesterday, but we saw a close at 38.3k, and interestingly, the 21EMA acted as good support, could indicate that the bulls are taking control again, which can be seen in the RSI as well which has been in an uptrend, currently hovering near 50. The 200EMA is acting as a strong dynamic resistance for BTC as well.bitcoin

Bulls would want to break that and go over 42k in order to continue the momentum, but a good amount of volume is needed for that to
happen. If bulls are unable to break resistance, the 36k and then 33k levels are regions of key support that should be held.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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