• On the upside, if the bulls break above EMAs, the crypto’s price will resume its upward move to retest the overhead resistance level.
• The BTC price now trades between the levels of $7,600 and $ 9,000.

BTC/USD Medium-term Trend: Bullish

• Resistance Levels: $8,500, $9,000 ¸ $9,500
• Support levels: $7,500, $7,000, $6, 500

Yesterday, June 11, the price of Bitcoin is in the bullish trend zone fluctuating between the level of $9,000 overhead resistance and the $7,600 support level. The crypto’s price is range bound above the $7,600 price level. Since on May 15, the BTC price had traded within the confined range. From the Fibonacci tool, the BTC price is in the 0.382 (38.2%) Fib. retracement level.

The 0.382 (38.2%) Fib. retracement level is a continuation zone for Fibonacci tool.
On the upside, if the bulls break above EMAs, the crypto’s price will resume its upward move to retest the overhead resistance level. Meanwhile, the MACD line and the signal line are above the zero line which indicates is a buy signal.

BTC/USD Short-term Trend: Bullish

On the 1-hour chart, the BTC price is in a bullish trend. The bulls are yet to break the $9, 000 overhead resistance level. The BTC price now trades between the levels of $7,600 and $ 9,000. On May 27 and 30, the bulls made attempts on the $9,000 overhead resistance but were resisted.

On June 2, the BTC price was resisted but the BTC market was on a downward correction to the support of the $7,600 price level. The BTC price is trading above the $7,600 but it is facing initial resistance at the $8,000 price level. Meanwhile, the MACD line and the signal line are below the zero line which indicates is a sell signal.

Bitcoin’s price is $34,638.35 BTC/USD exchange rate today. The real-time BTC market cap of $649.19 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $24.43 Billion and live coin value change of BTC 3.51 in the last 24 hours.

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