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18.06.202116:49 Forex Analysis & Reviews: BITCOIN Hot Forecast for 18 June

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Bitcoin has been down for almost 2 months leaving investors curious.
Back on Monday, Bitcoin showed signs of recovery as it reached $41k.

Bitcoin/USD chart is trading around $37,200 as things got pretty sweaty for traders. Strong support was met at $38,000 which was broken by the coin. Later, the coin was able to recover easily and this causes the entire market to increase, if only by a small scale. According to experts, BTC seeks to retest the resistance that it broke a few days prior.

This is an understandable reason for the belief of experts that BTC is not in the clear zone. It could be that the price of the coin is getting ready for a rebound but that is not assured. There is a chance that Bitcoin might fall further but as it is closer to the levels of $40,000, one can say that it might remain at those levels and try to expand further towards the $40k price mark.

Jan Novotny
Analytical expert of InstaForex
© 2007-2024

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