$BTC ### Bitcoin Price Analysis: A Potential Upward Move on the Horizon?

#### Hourly Chart Analysis

In the past 24 hours, Bitcoin (BTC) has experienced a decline of 2.73%. Currently, the price is oscillating within a narrow channel on the hourly chart. Buyers may consider an upward move if the price can be pushed back to the $69,500 zone. Achieving this could open the door for a potential breakout above resistance.

#### Daily Time Frame

The daily chart shows a continued balance between bulls and bears, indicating that significant price swings are unlikely in the near term. Consequently, the most probable scenario is ongoing sideways trading around the $69,000 mark.

#### Midterm Perspective

From a midterm perspective, Bitcoin has struggled to maintain a position above the $70,000 zone. As long as the price remains below this level, a correction towards the $66,000 range remains possible.

### Current Status

As of the latest update, Bitcoin is trading at $69,325.82

#### About the Author

@Denys Serhiichuk brings over five years of experience in trading and market analysis, specializing in both technical and fundamental approaches.

*Source: TradingView, June 8, 2024*

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