Forecast on the Bitcoin exchange rate: the coin will fall in price to $ 8100 by June 2

The Bitcoin (BTC) cryptocurrency rate continues to fall and has already gone beyond the upward trend line that arose on 13Martha. As a result, the coin should become cheaper by $ 8,100 by June 2.

Key points

At $ 9,000 and $ 9,100 there are powerful resistance barriers.

A bearish trend line has formed on the hourly chart with resistance in the region of $ 9050.

If the downward trend continues, the price of the asset will drop to $ 8650 over the next two sessions.

On May 21, sellers broke through the $ 9,000 support zone, andBTC cost collapsed from $ 9,581 to $ 8,645 (on the Bitstamp exchange). From May 22 to May 24, buyers overcame the $ 9,000 mark three times, but could not stay above this level. Therefore, a new downward movement arose, as a result of which the value of cryptocurrency decreased from $ 9,283 to $ 8,691.

A bearish line has already formed on the charta trend with resistance at $ 9050, which is approximately 61.8% of the Fibonacci level recorded during the dump of the BTC from $ 9,283 to $ 8,691. The key resistance zone is located at around $ 9100, which coincides with the average coin price per 100 hours. Thus, a reversal in the BTC market is only possible if the bulls break through $ 9100. The following barriers are at the levels of $ 9330, $ 9800 and $ 9950.

To what point will the Bitcoin rate go down?

Most likely, the bulls are not going to punchthe barrier is $ 9100, in connection with this, the coin will become cheaper. Immediate support is located in the zone of $ 8800. Successfully overcoming this barrier will mean a further reduction in the value of the asset to $ 8500.

May 25, BTC price change dynamics went beyondthe border of the bullish trend of March 13. If the asset rate fluctuates within a downtrend, then the value of Bitcoin will not exceed $ 9000, and by June 2 it will drop to at least $ 8100.

The price of the coin crossed the bear line three timesthe trend that arose in June 2019, and each time decreased sharply, returning to the established framework. Given this fact, together with historical data, it can be assumed that in 2020, Bitcoin will update its two-year bottom in the region of $ 4000.