Bitcoin has witnessed a massive plunge from the $30,000 level to $20,000 in the month of June. Price of Bitcoin has been witnessing movement within a range of $20,000 and $21,000 respectively. The short term technical outlook of the coin has been pointing towards bullishness.
It is however too soon to term the upward price direction as a relief rally. If BTC manages to remain afloat above the $21,000 price mark, the coin can target the next price barrier. Buyers have shown optimism on the chart and as a result, price of the coin demonstrated a respite.
Bitcoin witnessed overbought conditions over the last 48 hours painting a bullish outlook on the chart. With continued buying strength, BTC might be able to target $24,000, however chances of bullish pullback cannot be ruled out.
Bitcoin Price Analysis: Four Hour Chart
Bitcoin was priced at $21,600 on the four hour chart | Source: BTCUSD on TradingView
BTC was trading at $21,600 at the time of writing. The coin has broken past the $20,000 mark and managed to ascend as seen on t ..
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