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Bitcoin Price (BTCUSD) Begins with New Negativity – Forecast for June 24, 2024

Bitcoin (BTCUSD) Price Analysis

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Current Scenario

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Bitcoin price (BTCUSD) started today’s trading session with a decline, breaking below the $63,000 barrier. This movement supports the continuation of the bearish trend anticipated for the upcoming period, influenced by the previously completed double top pattern within the bearish channel visible on the chart. The next target is set at $60,330.

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While the stochastic indicator currently shows positivity, this might lead to some temporary sideways fluctuation before the bearish trend resumes. This bearish outlook remains valid unless the price rallies and breaches the $65,485 level, holding above it.

Expected Trading Range

The expected trading range for today is between $60,200 support and $64,200 resistance.

Trend Forecast

Bearish

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