Bitcoin Price Forecast: Could $66.8K Be Next?

John Darbie
Photo: Finoracle.net

Bitcoin (BTC) Price Prediction for June 16

The market is trading sideways at the end of the week, according to CoinMarketCap.

The price of Bitcoin (BTC/USD) has risen by 0.14% over the past 24 hours.

On the hourly chart, the rate of BTC is trying to break the local resistance level of $66,350. If it breaks out, the upward move may continue to the $66,800 zone soon.

On the daily time frame, none of the sides have accumulated enough energy for a sharp move. This assertion is also confirmed by falling volume. In this case, ongoing consolidation in the zone of $66,000-$68,000 is the more likely scenario.

From the midterm point of view, the picture is quite similar. The price of BTC is far from support and resistance levels. Likewise, there are low chances of seeing sharp ups or downs during the next few days.

Bitcoin is trading at $66,402 at press time.

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John Darbie is a seasoned cryptocurrency analyst and writer with over 10 years of experience in the blockchain and digital assets industry. A graduate of MIT with a degree in Computer Science and Engineering, John specializes in blockchain technology, cryptocurrency markets, and decentralized finance (DeFi). His insights have been featured in leading publications such as CoinDesk, CryptoSlate, and Bitcoin Magazine. John’s articles are renowned for their thorough research, clear explanations, and practical insights, making them a reliable source of information for readers interested in cryptocurrency. He actively follows industry trends and developments, regularly participating in blockchain conferences and webinars. With a strong reputation for expertise, authoritativeness, and trustworthiness, John Darbie continues to provide high-quality content that helps individuals and businesses navigate the evolving world of digital assets.