Bitcoin price analysis for June 12, 2022, comes on a bearish note for the token with increased chances of losing the $28K price region in the near future. Additionally, we have noted in our BTC price analysis for June 11, 2022, that the world’s biggest cryptocurrency has lost major price levels in the past 24 hours after a 3% price drop. The BTC token has tried to push above the $30K price region multiple times in the past few days but failed to do successfully. At the time of writing, BTC has lost $29K support as well.
The data from CoinMarketCap shows that the trading volume of the token dropped by 1.98% in the last 24 hours, followed by a 3.05% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.05157, while the Market Dominance rose to 47.60%.
The daily candle for the token opened at a price of $28424 and reached a daily high of $28544. On the other hand, the daily low for Bitcoin stands at a price of $28171. The price of 1 Bitcoin at the time of writing is $28226.
Bitcoin price analysis for June 12 on the daily chart
Bitcoin price analysis for June 12, 2022, will consider the data from the daily chart below with three major indicators integrated into it.
The RSI indicator reads a value below 39 which means that the bears have regained their control over the Bitcoin price action.
The MACD indicator shows that the MACD line is now touching the signal line and now, a bearish divergence for the token can be confirmed.
The price action for Bitcoin has dropped to the bearish zone of the Bollinger Bands confirming that we can expect a bearish breakout soon.
Conclusion
Bitcoin price analysis for June 12, 2022, ends on a bearish note for BTC as there are no signs of bulls taking over in the near future.
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