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Bitcoin technical analysis dated 2023.15.06 – An overview of important support and resistance levels of the four major currency pairs of the ongoing week.

 

• First key support level of EUR/USD: 1.08015
• Second Key support level of EUR/USD: 1.07781
• Third Key support level of EUR/USD: 1.07400
• First key resistance level of EUR/USD: 1.08654
• Second Key resistance level of EUR/USD: 1.09400
• Third Key resistance level of EUR/USD: 1.10347

• First key support level of USD/CHF: 0.8989
• Second Key support level of USD/CHF: 0.89653
• Third Key support level of USD/CHF: 0.894927
• First key resistance level of USD/CHF: 0.90294
• Second Key resistance level of USD/CHF: 0.906
• Third Key resistance level of USD/CHF: 0.91080

• First key support level of GBP/USD: 1.26264
• Second Key support level of GBP/USD: 1.26000
• Third Key support level of GBP/USD: 1.25000
• First key resistance level of GBP/USD: 1.26984
• Second Key resistance level of GBP/USD: 1.27323
• Third Key resistance level of GBP/USD: 1.28000

• First key support level of USD/JPY: 139.750
• Second Key support level of USD/JPY: 138.700
• Third Key support level of USD/JPY: 137.800
• First key resistance level of USD/JPY: 140.225
• Second Key resistance level of USD/JPY: 140.446
• Third Key resistance level of USD/JPY: 140.931

 

Bitcoin technical analysis dated 2023.15.06

 

Bitcoin has had a nearly descending trend in the past month so the sellers in this descending trend have reached the lowest price level of $24793.12. The price has not declined further by reaching and approaching the important support range of $25270 to $24800 (R=S) and some sellers have not continued their sales deals. There is no clear reason for the price increase in long-term intervals (such as monthly and weekly) at the moment. And in case of risk and the loss of the support level of $24793.12, the price will have more descending potential and it will probably reach the support level of $24,000 (warning for buyers).

Considering the type of price movements formed in long time frames, there will be at least a good sign to hope for the ascent. This case is achieved by the formation of a price floor and its stabilization in the weekly period, which has not been as important at the moment. In the current situation, short-term changes in the market are also under the control of the sellers and in the opposite scenario, if a fixed price floor is formed in the 4-hour time frame the potential price will change to the resistance levels of $25250 to $25420.

 

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