Bitcoin (BTC) Price Analysis for June 16

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Bitcoin (BTC) is the biggest gainer today, up 1.77%.

Top Coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) rate outperforms altcoins, according to data from CoinMarketCap.

Image by TradingView

On the hourly chart, Bitcoin (BTC) price made a false break of local support at $25,210. If the buyers can hold on to the momentum gained and the candle closes near the resistance at $25,678, we can expect a breakout followed by a breakout in the $25,800 area tomorrow.

Image by TradingView

On a longer time frame, it is too early to make predictions as the BTC rate has not accumulated enough energy for growth, even though it has bounced off the support at $24,819.

In this case, the most likely scenario is consolidation in a tight $25,500-$26,000 range.

Image by TradingView

A similar situation can be seen on the weekly chart as the rate made a false breakout of the mirror level. If the bar closes above the low of the previous candle at $25,350, traders can expect local upward movement towards the $26,500-$27,000 area by the end of the month. .

Bitcoin is trading at $25,600 at press time.

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