BTC reaches 2020 high level

Source: Dukascopy Bank SA


The decline of Bitcoin continues, as the rate has reached below the 25,000.00 mark. On June 15, the cryptocurrency hit the 2020 high level at 20,100.00, which acted as support. On June 16, the price was once again heading to the previous high and the 20,000.00 mark.

A move below the 20,000.00 level could look for support in various levels. Note the 2020 November and December high and low levels at 17,600.00, 16,450.00 and 16,000.00. In addition, the price has been declining in a channel down pattern since March 30. The lower trend line of the channel pattern is located

However, a potential recovery of Bitcoin would have to get out of the resistance zone at 21,950.00/24,370.00, before facing the 25,000.00 mark and the 28,850.00/30,000.00 zone.
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