- Possible resistance at $ 9657.7
- Possible support at $ 9062.6
- This week’s highest: $9,938.30
- This weeks lowest: $8,990.18
- Last 1 months highest: $10,199.56
- Last 1 months lowest: $8,719.67
Also Read: Shared Custody Secures 6M Bitcoin
There is some resistance around $9657.7 and the next resistance sits at $9881.4 on daily chart.
There is no major resistance before $9657.7 and if it is cross resistance, $9881.4 will be the next strong resistance.
If resistance of $9657.7 is crossed, price is likely to move towards $9881.4 levels and further to target resistance at $10252.8. However, if Bitcoin fails to cross the first resistance level, the price might settle around the next support levels at $9062.6. If support of $9062.6 is crossed, Bitcoin price is likely to fall below to $8,691.2 level.
Newsherder’s BTC/USD Daily Price & Forecast of June 16, 2020 reveals that upward movement from current levels is expected for Bitcoin’s current price. If BTC is able to cross $9657.7 levels, $9,881.4 will be the next level to watch for. But, if BTC fails to cross $9,657.7 levels, the price will be pushed at $9062.6 support levels.
1. Bitcoin on track for explosive rally to $50,000
If prominent industry investors and experts are to be believed, Bitcoin can hit $50,000 and consequently secure a $1 tillion market cap in next couple of years. Winklevoss twins, another billionaire investor anticipates Bitcoin to be eventually considered as gold 2.0 and that Bitcoin will account for significant portion of gold share.
2. Biggest mining difficulty increased posted by Bitcoin in nearly 2.5 years
On Tuesday around 17:00 UTC, the Bitcoin network adjusted its difficulty levels to 15.78 trillion which is 14.95% increase. This is the biggest difficult jump seen since January 2018 and miners contributing hashing power to the network are consequently experiencing the fourth-most difficult two-week mining period in history of Bitcoin.