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Bitcoin price sees a downward trend on the 11th of June. The cryptocurrency moved above the $9950 level before turning bearish. In the afternoon, the cryptocurrency had fallen below $9650. RocketBomb, the TradingView analyst, was of the opinion that BTC will see a rollback.
1-Day Bitcoin price analysis (11th June)
The cryptocurrency traded near the $9760 level at the start of the 24-hour trade. BTC price spiked above the $10000 level at 18:45 GMT, after which it returned below the $9800 mark.
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Bitcoin price stale below $9800 with strong support
By the 11th of June, the cryptocurrency had approached the $9890 level after which it moved to a day’s high of $9960.64 US Dollars. The BTCUSD pair turned bearish and it was observed falling towards the $9600 level. At the time of writing, BTC traded at a price of $9651.77 US Dollars.
The Relative Strength Index (RSI) diverged below 30.00 after 06:00 GMT. The technical indicator had fallen to a low of 15.45, which shows that the cryptocurrency was oversold at the time.
Bitcoin price movement: downward rollback
Rocket Bomb is a TradingView analyst who believed that BTC price would move upwards and touch the $10000 mark before it sees a rollback.
The idea chart above shows that the BTC price was expected to move towards the $10000 level. The rising support line drawn by the crypto analyst trends right below the trading pair.
On the 11th of June, the cryptocurrency approached the $9950 mark, after which it began to observe a downward rollback. At the time, the cryptocurrency trades near $9650. This idea by RocketBomb is in play.
Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.
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