Bitcoin moves back-and-forth as market turns green

Bitcoin price analysis
Source: TradingView

Bitcoin price analysis for June 25, 2022, comes on a sluggish note for the world’s biggest cryptocurrency as the BTC coin seems to move back and forth over the past few days. As noted in our BTC price analysis for June 24, 2022, BTC has a major resistance toward the $21K price region which the token has failed to hold above on multiple occasions. In the last 24 hours, the prices retested the support just south of $20K to reclaim the $21K price level but it will be interesting to see if the token is capable of retaining the price action above this region or not.

The data from CoinMarketCap shows that the trading volume of the token dropped by 5.51% in the last 24 hours, followed by a 0.79% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.06065, while the Market Dominance dropped to 42.49%.

The daily candle for the token opened at a price of $21237 and reached a daily high of $21379. On the other hand, the daily low for Bitcoin stands at a price of $21121. The price of 1 Bitcoin at the time of writing is $21217.

Bitcoin price analysis for June 25 on the daily chart

Bitcoin price analysis for June 25, 2022, will consider the data from the daily chart below with three major indicators integrated into it.

Bitcoin price analysis
Source: TradingView

The RSI indicator reads a value below 35 which confirms that Bitcoin is no more being oversold in the market while the gradient of the line suggests sluggishness.

The MACD indicator shows that the MACD line is has broken above the signal line and the MACD histogram has turned green as well.

The price action for Bitcoin is situated in the lower region of the Bollinger Bands confirming that the sellers are in charge.

Conclusion

Bitcoin price analysis for June 25, 2022, ends on a sluggish note for BTC as the chances of BTC retaining $21K seem considerable.

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