BTC/USD Outlook for June 2022: Bitcoin Forex Forecast predictions Price trading
BTC/USD saw a low of nearly 25,500.00 on the 9of May. The move lower in Bitcoin is not surprising, considering the strong bearish trend which has been demonstrated time and again since November of 2021. The start of April saw a new onslaught emerge lower, after a brief run higher was exhibited starting in the middle of March which ran out of speculative fuel, and the downside has generated more power in May.
Technical long term charts can be glanced out to try and decipher what will happen next and what barriers if broken will spur on more selling. The problem that BTC/USD faces is the potential that speculative buyers will remain in short supply and not react to technical charts. Some traders may believe for the time being that profits are going to be made pursuing selling positions.
Traders who are intent on shorting BTC/USD and believe that further price erosion is going to be seen in the weeks ahead cannot be blamed. If BTC/USD falls below the 28,000.00 mark and sees violent trading, new lows could develop quickly. Traders need to be ready for significant volatility if BTC/USD were to break below the 26,000.00 mark.
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