Bitcoin lost key support at $25,250 on June 14, demonstrating strong selling from the bears.
Despite bullish attempts from the bulls on June 15 to take the price above $25,250, to initiate a meaningful rally, the price will have to break above the 20 exponential moving average. day (EMA) at $26,320. If successful, the BTC/USDT pair can continue to rise to the 50-day simple moving average (SMA) at $27,210 and then the resistance line of the descending channel.
If the price turns down from the 20-day EMA, the bears will attempt to push the pair down to the support line of the channel. The bulls are expected to defend this level with all their might, as a break below this level could pave the way for a fall to the psychologically important level of $20,000.
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