Markets Technical Analysis

Bitcoin Looks Ready for a Bounce After a Tumultuous Tuesday

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The Bitcoin price is following an ascending support line.

  • BTC has found minor support above $9,400, while the closest resistance area is found between $9,700-$9,800.

  • The primary resistance area is found at $10,500.

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On June 2, the Bitcoin price was subject to a rapid decrease that caused it to drop by roughly $600 inside of an hour. At the time of press, BTC was trading at $9,500, slightly above a minor support area. Bitcoin Bearish Engulfing Candlestick Yesterday, the Bitcoin price was strongly rejected by the $10,500 resistance area and created a bearish engulfing candlestick. This caused it to
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Valdrin Tahiri

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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