Bitcoin Price Retrieves Back to $9.3K-$9.4K Zone Following yesterday’s surge

The top-ranked digital asset Bitcoin (BTC) once again fails in its attempt to cross above the psychological level of $10k and retrieves back without even touching the resistance zone. Currently, Bitcoin’s price value is down 2.02% trying to hold in the $9300 position zone.

BTC Price Value

At the time of writing, the price of Bitcoin is trading at $9,429.00 USD with a change rate of -2.02% in 24 hours.

Statistical Data

  • The market capitalization of Bitcoin stands at $173,619,459,228 USD out of the total market cap.
  • The 24-hour trading volume of the coin is $18,134,184,432 USD.
  • The circulating supply of Bitcoin is 18,413,350 BTC.

Price comparison

If we go back to the last day price performance of Bitcoin, we will see that the market sentiments were in the favor of Bitcoin and bulls were holding Bitcoin’s price above $9.6k figure. But the leading coin could not maintain its residence there and have plunged all the way down to $9300 area today on June 24, 2020. The price value of the coin has suddenly dropped recording a low of 2.22% within few moments.

The above-given chart is clearly indicating that Bitcoin’s price value is trading in the bearish zone. The trend-line is suggesting a downtrend for Bitcoin.

BTC short-term Price forecast

Right now, the best short-term case scenario for Bitcoin is to hold in the $9300-$9400 area for a while so that the bearish sentiment fades away. If it manages to stay here for a while, this area may turn into a stronger support range for the coin in the coming days. With the support of this range, Bitcoin might be able to break the resistance of $9500 conveniently. However, there are signs of a big drop as well if it faces rejection at this resistance level.

After breaking above the $9.5k resistance, the key resistance levels for Bitcoin to break are $9683.003, $9736.347, and $9802.153.

Conclusion

Though Bitcoin faces rejection every time when it strives to reach its milestone, the leading coin will not stop making efforts until it succeeds. However, Bitcoin investors still carry on with their holding mentality.

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Danna James

Danna is a journalist and technical writer with six years of experience researching and creating crypto articles, reviews, and how-to guides for different online media outlets, and academic journals.

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