Forecast on the Bitcoin exchange rate: the coin will fall in price to $ 9000 by June 30

The Bitcoin (BTC) cryptocurrency rate did not overcome the resistance barrier at $9800 and began to correct.Therefore, the coin should become cheaper by $ 9,000 by June 30th.

Key points

Over the last day, BTC added 5% in price and fixed above the average for 100 hours ($ 9500).

On the hourly chart, a downtrend line has formed with resistance at $ 9650.

The nearest support barrier is located in the zone of $ 9500.

On June 22, a bullish trend arose in the Bitcoin market, inAs a result of which the virtual currency rate broke resistance at $ 9400 and $ 9500. The price of a coin reached its maximum in the last 11 days - $ 9779 (on the Bitstamp exchange), but then a correction began, and the asset fell to $ 9617.

The chart shows a bearish trend line withresistance at $ 9650. If buyers do not overcome this barrier, the cryptocurrency price will drop to the level of $ 9530, which is at 50% of the Fibonacci level recorded during the pump from $ 9282 to $ 9779. The upward movement will meet resistance at $ 9700 and $ 9800. Successful penetration of these barriers will mean an increase in the cost of BTC to $ 10,000.

To what level will the Bitcoin rate fall?

For almost two months, the price of BTC has been fluctuating atin the range from $ 8,200 to $ 10,200. At the same time, in June the level of volatility and trade volume decreased markedly. At the beginning of the month, the dynamics of the Bitcoin exchange rate went beyond the upward trend that arose in March. Given this fact and the bearish trend line, on June 30, the price of Bitcoin will be a maximum of $ 9,391. Moreover, during the pampa, the coin rate exceeded the boundary of the trend; as a result, the downward movement should accelerate.

At $ 9,200 a key zone has formedsupport. If this barrier is broken during the next dump, then the price of BTC may well drop to $ 5000. Otherwise, a rebound of up to $ 11,000 is possible. Bitcoin managed to stay in the range above the downward trend line, which started in June 2019. In this regard, the coin has a chance to set a new record for value this year, but a negative scenario is more likely.