Bitcoin price varied near $9700 for the 24-hour trade while it saw a day’s high above the $9840 mark. Trading view analyst, Kinnari Prajapati is of the opinion that BTC price will see an uptrend across $10800.
As per coinmarketcap.com, the cryptocurrency king is ranked at the top in the cryptocurrency market, while it has a market capitalization of $179,047,335,375 US Dollars.
1-Day Bitcoin price analysis (9th June)
Bitcoin Price Chart by Trading View
Bitcoin traded at $9670 US Dollars at the beginning of the 24-hour trade. BTC charts do not depict any significant variation in the pair’s trajectory; however, the cryptocurrency jumped across the $9840 mark at the start of the 9th of June.
\ BTC price fell below the $9600 level shortly after the increase in the price. At the time of writing, Bitcoin traded at $9721.82 US Dollars.
Bitcoin price long side entry levels
Prajapati, the TradingView analyst, discussed that the cryptocurrency would move above the $10900 and $11500 marks after a 3rd wave of buying above $9900.
The analyst drew a wedge trading pattern on the chart with a support level of $9260. It is probable that BTC price will rise towards the $10925 mark once the pair completes the pattern.
Prajapati suggests the risky traders buy between $9396 and $9260 for similar targets in the long trade. While, for a shorter trade, the analyst advised a target range of $10120 — $10400.
The trade seems to be active as BTC trades near $9730. The Relative Strength Index (RSI) fell to a low of 13.39 at the time the cryptocurrency’s price fell towards $9560.
This showed that Bitcoin was oversold at the time. For the rest of the 9th of June, BTC showed no major variations in its price.
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.
