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June 25, 2023Without a clear-cut direction, Bitcoin is trading around $30,500 and ranging between $30,365 and $31,041.
Bitcoin made an initial break below its 5 day Simple Moving Average at $30,369, a possible indication of a forthcoming negative trend. Bitcoin's upper Bollinger Band® is at $31,784, suggesting that a downward move may follow. In contrast, Bitcoin is approaching key support, around $336.51 away from $30,174. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
According to technical indicators, Bitcoin is positioned for a downward move in the short term.
Other markets show mixed performance as Bitcoin Cash closed at $196.26 (down 8.42%). Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Having closed the previous session at $4.74, UNICORN Token USD is up 15.16% today to currently trade at around $5.45.
Bitcoin has managed to gain 84.83% so far this year despite trading at lows around $15,759 previously.
