Bitcoin $BTC Price Prediction for June 8

The price of Bitcoin (BTCUSD) has dropped by 2.73% over the last 24 hours, as shown by CoinStats.

Hourly Chart:

Bitcoin is currently trading in the middle of a narrow channel. Buyers might consider an upward move only if the price returns to the $69,500 zone, potentially leading to a resistance breakout.

Daily Time Frame:

The situation remains unchanged from yesterday. Neither bulls nor bears are in control, indicating that sharp moves are unlikely in the near future. Sideways trading around the $69,000 mark seems more probable.

Midterm Outlook:

Bitcoin has again failed to stabilize above the $70,000 zone. As long as the price stays below this level, a correction to the $66,000 range is expected.

Bitcoin is trading at $69,539 at the time of writing. #Bitcoin #CryptoNews