Bitcoin

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Bears are not stepping back, according to <a href="https://u.today/shib-price-prediction-for-june-7" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="9f6f2c4e-54f3-4b7b-9eac-ff7b605413ae" src="https://u.today/sites/default/files/inline-images/top10_1167.png">BTC chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="btc-usd">BTC/USD</h2>
The price of Bitcoin (BTC) has declined by 2.73% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="ecb6b830-d96b-4bef-a954-23dc442c20b2" src="https://u.today/sites/default/files/inline-images/btc1_201.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of BTC is in the middle of the narrow channel. Buyers may start thinking about an upward move only if they restore the price to the $69,500 zone. In this case, there is a chance of a resistance breakout. <img data-entity-type="file" data-entity-uuid="dbf37e00-3583-4ce8-94f2-5f41894e49ec" src="https://u.today/sites/default/files/inline-images/btc2_182.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the daily time frame, the situation has not changed since yesterday. Neither bulls nor bears are dominating, which means sharp moves are unlikely to happen soon.
All in all, ongoing sideways trading around the $69,000 mark is the more likely scenario. <img data-entity-type="file" data-entity-uuid="39e5c0da-5ba6-43f0-b61d-577f05db5dd4" src="https://u.today/sites/default/files/inline-images/btc3_180.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/BTCUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, the price of BTC has once again failed to fix above the $70,000 zone. While the rate is below that mark, one can expect a correction to the $66,000 range.
Bitcoin is trading at $69,349 at press time.

Bitcoin (BTC) Price Prediction for June 8

Table of Contents

U_Today

Other articles published on Jun 8, 2024

Zilliqa Unveils Groundbreaking 2.0 Upgrade: Faster, Eco-Friendly Blockchain with Enhanced Interop...

BlockDAG’s Stellar Rise By 1,000% Post Keynote: Outpacing XRP And Notcoin Forecasts

Vitalik Buterin vs. Iggy Azalea after MOTHER’s 1200% hike

Will these altcoins soon break all-time highs? Top analyst says Solana will hit $900

Trending Now: June 2024's Breakout Crypto Stars

Trump’s $33M Crypto Portfolio Drops to $21M Overnight Due to Volatile Market Conditions

Join our free newsletter for daily crypto updates!