Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.


BitcoinExchangeGuide Coins Update

Recommended Posts

Bitcoin (BTC) Daily Price Forecast – June 4


BTC/USD Medium-term Trend: Bullish

Resistance: $8,000, 8,500, $9,000
Support: $7,000, $6,500, $6,000
Last week price of Bitcoin was in a bearish market. The asset fluctuates below and above the price of $7,500. In other words, it fluctuates between the levels of $7,613 and $7,303. However, if the asset traded above the price of $7,500 it would be resisted at $ 7,613. Similarly, if the asset traded below the price of $7,500, it would fall to the low of $7,303.

Today, Bitcoin is currently trading at $7,697.52 and has broken the resistance level attempting to reach the high of $8,000. However, from the 4- hour chart, the price of Bitcoin has broken the trend line and the candlestick closed on the opposite of the trend line. The implication of this movement is that the bearish pressure of the asset might have ended. However, the 20-day moving average is above the 50-day moving average indicating that price of Bitcoin is rising.


BTC/USD Short-term Trend: Bullish

On the hourly chart, the price of Bitcoin is in a bullish market. Price of the asset fell to the low of $7,039.41 and commenced a bullish movement. A trend line is drawn showing the support levels of price of the asset where traders can place their long trades.



The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.


Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...

Important Information

By using this site, you agree to our Terms of Use.