Technical Analysis for BTCUSD for 26th June 2023
Bitcoin at 2023 Highs, will BTC hold above $30k?
Past Performance of BTC
Bitcoin Technical Analysis
Bitcoin is trading at around 2023 highs following sharp gains from June 20 to 23 at the back of expanding volumes, as visible in the daily chart. Subsequently, traders can continue looking for entries on dips, aligning with the primary trend established last week. Notably, the coin is within a bullish breakout formation, syncing with March to April gains. The anchor remains at the base of June 2023 lows at around $24.8k. Meanwhile, any retest of $30k or even $28.3k could be areas of loading if there is a retracement from last week's peaks. The immediate target is at $31.3k, later $32.5k, and $35k if bulls press on.
What to Expect from BTC
Traders are optimistic and fundamental factors could pump the coin to new highs. Even so, for now, the rejection of higher highs over the weekend could translate to retracements. Immediate support levels remain $29.8k and $28.3k on the lower end. Any expansion above last week's high could trigger more demand, pushing BTC to 2023 highs.
Resistance level to watch: $31.3k
Support level to watch: $29.8k
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