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<ul>
<li>Bitcoin price encountered selling pressure at the resistance level of $25,750 and performed a downward movement.</li>
<li>If BTC price manages to rebound from the range of $25,145 &#8211; $24,981, the upward target is $26,100.</li>
<li>Bitcoin can sustain its upward trend by closing daily above the level of $24,600.</li>
</ul>
<p><strong>When examining the technical chart of Bitcoin, it can be observed that BTC price entered a downward movement due to selling pressure at the resistance level of $25,750. However, if it manages to rebound from the range of $25,145 &#8211; $24,981 and achieves daily closings above the level of $24,600, Bitcoin can continue its upward trend.</strong></p>
<h2 id="strong-medium-term-bitcoin-price-analysis-strong"><strong>Medium-Term Bitcoin Price Analysis</strong></h2>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/Will-Bitcoin-Continue-Its-Upward-Movement-June-16-BTC-Analysis.png"></a></p>
<p>Daily BTC/USD Price Chart</p>
<p>When examining the daily price chart of Bitcoin, it can be seen that it reacted with an upward response from an important weekly support level and achieved a 4% increase from the mentioned region in yesterday&#8217;s analysis.</p>
<p>According to the current technical chart, as long as BTC price continues to close daily above the level of $24,600, it can sustain its upward movement towards the mentioned levels of $28,000 in the analysis.</p>
<p>For Bitcoin price to initiate its upward trend, it needs to break the resistance of $26,400 and achieve daily closings above it.</p>
<p>If it remains above the level of $24,600, Bitcoin can start its upward trend from weekly support levels.</p>
<p>However, if BTC price breaks below the level of $24,600, it can extend its downward movement towards the level of $24,000.</p>
<h2 id="strong-short-term-bitcoin-price-analysis-strong"><strong>Short-Term Bitcoin Price Analysis</strong></h2>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/1686919693_833_Will-Bitcoin-Continue-Its-Upward-Movement-June-16-BTC-Analysis.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133623 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/1686919693_833_Will-Bitcoin-Continue-Its-Upward-Movement-June-16-BTC-Analysis.png" alt="30-Minute BTC/USD Price Chart" width="1936" height="857" /></a></p>
<p>30-Minute BTC/USD Price Chart</p>
<p>When examining the short-term technical chart of Bitcoin, it can be seen that it realized the price movement mentioned in our btc analysis shared on our website yesterday.</p>
<p style="text-align: center;"><a href="https://en.coinotag.com/will-bitcoin-hold-on-to-criticism-support-june-15-btc-analysis/" target="_blank" rel="noopener"><strong>Click Here to Read the BTC Analysis We Shared Yesterday.</strong></a></p>
<p>When examining the technical chart of Bitcoin, it can be observed that if the BTC price does not achieve 30-minute closings above the level of $25,750 indicated by the red line in the analysis, it can continue its downward movement towards the range of $25,145 &#8211; $24,981.</p>
<p>If BTC rebounds from the range of $25,145 &#8211; $24,981, it can set its upward target at the level of $26,100.</p>
<p>However, if Bitcoin achieves closings below the level of $24,980, it can extend its downward movement towards the level of $24,850.</p>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/will-bitcoin-continue-its-upward-movement-june-16-btc-analysis/">Will Bitcoin Continue Its Upward Movement? June 16 BTC Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.</p>

Will Bitcoin Continue Its Upward Movement? June 16 BTC Analysis

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