General Introduction Bitcoin Price:

Bitcoin traders must have the best trading day. The coin must move in the same direction during the next few days. We assume that BTC would be under pressure selling at the center, but by the end of June 2019, the coin is likely to exceed $12,000.

BTCUSD Dominant Trend: Bullish

Resistance Levels: $11,000, $11,200, $11,400

Support Levels: $8,700, $8,500, $8,300

After the 4 hour chart, Bitcoin (BTC) prices have exceeded the $10,000 level, the highest cryptocurrency valuation for more than a year and a significant psychological step for retail investors, while Institutions are preparing to enter the market. BTC remained stable between the levels of $8,980 and $9,450 at the beginning of the week. Prices did not start to change until Thursday morning and reached $10,238 at the end of yesterday’s operations. The trend continued, albeit at a slower pace, throughout the trading days of Asia and Europe. Bitcoin has surpassed the $10,000 mark. This is the highest Bitcoin valuation for 2019; its apotheosis since the boom of the beginning of April 2019. At the beginning of March 2018, the BTC reached more than $10,000. This represents a return on investment of 212% for buyers entering the market when the digital asset was trading around $3,200 in mid-December last year.

Looking at the chart, the price of Bitcoin is gaining ground clearly above the $10,000 resistance level. There is a good chance for an upward expansion and an increase of more than $10,800 in future sessions. If the price is rejected near the $ 10,500 level, there could be a significant bearish correction. If this is not the case, the bulls are likely to push the price to $11,000, $11,200 or even $11,400, trading well above the 50-day MA. In the technical aspect, the initial support is based on the previous resistance ($8,700). An additional failure is expected if Bitcoin erases this medium. Other support areas to consider include $8,500 (support transformed by resistance), $8,400 and $8,300 respectively. The following action plan for Bitcoin is lateral depending on the technical levels indicated in the 4-hour chart. The relative strength index began to be within overbought, suggesting a trade without short-term direction. The Moving Average Convergence Divergence (MACD) continued to increase above the mean line. The increasing divergence is an indicator of the continuous upward correction as bulls gain ground.