$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*
#BTC☀ #Binance55thProject(IO) #BnbAth #TopCoinsJune2024 #write2earn $ETH
Images By TradingView