Bitcoin (BTC) Analysis - June 7, 2024

Price chart:

Current price: $71,450

Trading volume: $26 billion

Market capitalization: $1.2 trillion

24-hour volatility: -0.75%

Trend:

**short term:** The chart shows the sideway trend over the past 24 hours.

Long-term: The trend is up over the longer time frame, with a 68.53% gain since the beginning of 2024.

Event:

19:30: US Non-Farm Payroll news will be announced. This is an important economic indicator that can influence the price of Bitcoin.

Forecast:

Short-term: It is difficult to accurately predict the direction of Bitcoin price in the short term due to the influence of Non-Farm Payroll news. However, with the current sideways trend, there is a high possibility that the price will continue to fluctuate slightly in the range of $70,000 - $72,000 until there is news.

Long-term: The uptrend is expected to continue in the long term, with a potential target of $144,567 by April 2024, the time of the Bitcoin Halving event.

Personal opinion:

Predicting Bitcoin price is always risky and nothing is certain. Therefore, you should do your own research and make your own investment decisions.

However, based on the above analysis, I think there is a possibility of a Dump - Pump occurring after the Non-Farm Payroll news is announced.

Note:

This is just a personal opinion, not investment advice.

You should be responsible for your own investment decisions.#binance #StartInvestingInCrypto #btc #bitcoin