Bitcoin Price Prediction

Bitcoin collapsed below the 20-day exponential moving average (USD 104,934) on June 5 and fell to the vital support of USD 100,000.

Daily chart of the pair $BTC /USDT. Source: Cointelegraph/TradingView

The strong rebound from the USD 100,000 level shows aggressive buying by the bulls. Sellers are expected to pose a significant challenge at the 20-day exponential moving average (EMA). If the price sharply falls from the 20-day EMA, the USD 100,000 level will be at risk of breaking. If that happens, selling could accelerate, and the BTC/USDT pair could plummet to USD 93,000.

Conversely, a breakout and close above the 20-day exponential moving average (EMA) suggests that the pair could trade within the range of USD 100,000 to USD 109,588 for a while. Bears are expected to mount strong defense in the USD 109,588 to USD 111,980 zone.

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