Bitcoin Technical Analysis Report 9 June, 2021

• Bitcoin reversed from support zone
• Likely to rise to resistance level 39230.00

Bitcoin cryptocurrency recently reversed up from the support zone lying between the support level 31365.00 (which created the daily Japanese candlesticks reversal pattern Hammer reversal pattern in the middle of May) and the lower daily Bollinger Bandy. The upward reversal from this support zone is aligned with the clear daily uptrend inside which Bitcoin has been moving from last year.

Bitcoin cryptocurrency currency pair can be expected to rise further toward the next resistance level 39230.00 (top of the previous Japanese candlesticks reversal pattern Bearish Engulfing the start of May) – from where the short-term correction is likely.

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