RATE Group | Bitcoin (BTC) Price Watch: Next Targets if $6,500 Breaks
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Bitcoin (BTC) Price Watch: Next Targets if $6,500 Breaks

13 Jun Bitcoin (BTC) Price Watch: Next Targets if $6,500 Breaks

Posted at 06:40h in Bitcoin News by

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Bitcoin Price Key Highlights

  • Bitcoin is down to a major support zone visible on the long-term chart and a breakdown could lead to a test of $4,000.
  • If bears still take price below the next long-term bottom, a move towards $2,000 could come next.
  • On the other hand, a bounce off this strong floor could allow more buyers to sustain a climb.

Bitcoin is down to the major support zone around $6,500 and might aim for the next floors on a break lower.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA on this time frame to confirm that the path of least resistance is to the downside. This suggests that the selloff is more likely to happen than a move higher.

Price appears ready to bust through $6,500 and might make it all the way down to the next visible area of interest at $4,000. A break below this could pave the way for a move back to $2,000.

On the other hand, a bounce could lead to a pullback to the 100 SMA dynamic inflection point. Stronger bullish pressure could take…

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