Bitcoin (BTC) Price Analysis for June 18

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Neither the bulls nor the bears are in control on the last day of the week as the rates for some coins continue to rise while others have returned to the red zone.

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BTC/USD

Bitcoin (BTC) price has barely moved since yesterday.

Image by TradingView

On the hourly chart, Bitcoin (BTC) price is trading in the middle of the narrow channel between support at $26,386 and resistance at $26,633.

Any sudden moves are unlikely until the end of the day as the coin has passed most of its ATR. In this case, ongoing sideways trades in the $26,500 area are the most likely scenario.

Image by TradingView

On a longer time frame, the BTC rate nearly tested resistance at $26,809, where it found bear pressure. If a local decline does not occur, traders can expect another attempt to break out of the $26,800 area. If that happens, the upward move could lead to the $27,200-$27,600 area.

Image by TradingView

On the weekly chart, the BTC rate made a false breakout of the mirror level at $24,819, which means buyers locally took the lead. However, it is too early to think of a quick reversal as the main crypto needs to accumulate more energy. Respectively, a consolidation in the $26,000-$27,000 range is the most likely scenario through the end of the month.

Bitcoin is trading at $26,483 at press time.

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