General Introduction (Bitcoin Price):
Yesterday (June 18), most of the top 20 cryptocurrencies report moderate losses on the day, given the time pressure, while Bitcoin falls again by almost getting below $9,000. BTC has currently fallen by around 3% on the day, trading around $ 9,045 as at the time of writing.
Bitcoin BTC USD Dominant Trend: Bullish
Supply Levels: $9900, $10000, $10100
Demand Levels: $8250, $8150, $8000
At BTC/USD, the bears lowered the price from $9,368 to $8,916 on Tuesday. The support line of $9,100 was strong before the bears could break through. In a very disturbing way, this shows the lack of sound and health levels and indicates that if the bears are gaining ground, they can lower the price to $8,250. Currently, bulls and bears are fighting around the $9,300 level. The 4-hour chart shows that there is a resistance stack of $9,900 to $10,100. If the bulls accumulate enough steam, they can break the price above the $9,900 level. After a slight correction to the downside, the price of bitcoin found support near the level of $8,250 against the US dollar. The BTC/USD pair maintained the demand and started a new rise, crossing the last high jump that approached the resistance level of $9,350 and reached a new high of 2019 near the level of $9,473. However, the bulls did not gain strength above $9,500 and the price caused an additional downward correction of $8,150 and $8,000.
In addition, Bitcoin must maintain more than $8,000 for the bulls to stay in control. At the time of writing, Bitcoin is trading at more than 2% at its current price of $9,118, below the 24-hour highs of $9,400 set yesterday, but above the 50-day moving average. In the space of a week, the BTC increased from $7,800 to almost $9,400. Then they pressed it to sell for $9,000, which seems to have become crypto-currency support. During the recent Bitcoin uptrend, the cryptocurrency took time after each upward movement to consolidate, while strengthening its buying power, which could mean that BTC will have to deal with a small wave of transactions sideways around the current price level before continuing to rise higher. In order for the additional gains to be imminent, it must now be taken into account that crypto must maintain a demand level above $8,250 in the short term, while the MACD is slowly generating bearish signals.