Bitcoin price started this week relatively slowly, but BTC is still trading around $69k as we explore the bitcoin price forecast and why $100k is “on the table” for June.
Bitcoin Price Forecast for June 2024
According to altFINS, the Bitcoin price is in an uptrend, consolidating in a sideways channel between $60k and $72k. Swing traders could potentially trade this channel by entering near $60k and exiting around $72k, with a stop-loss set just below the prior swing low at $55,800.
The sideways channel pattern indicates market indecision, and trend traders may want to wait for a breakout in either direction, although typically, a breakout occurs in the direction of the existing trend. Swing traders can trade the range by buying near support and selling near resistance.
The short-term trend is up, the medium-term trend is strongly up, and the long-term trend is up. Momentum is bullish but inflecting. The MACD line is still above the MACD signal line, but the declining MACD histogram bars suggest that momentum could be nearing a downswing. Currently, the price is neither overbought nor oversold based on the RSI-14 levels (RSI > 30 and RSI < 70).
The nearest support zone is $60k, followed by $50k. The Bitcoin price needs to first break its previous all-time high of around $73k set in March. If this happens in the upcoming days, based on the MACD lines and overall bullish sentiment, we might see $100k in June.
Crypto Rover, one of the most popular crypto analysts on X with almost 800k followers, tweeted that the Bitcoin Ascending Broadening Wedge pattern is about to break out, and once it does, it will send BTC to $100k.
Best Altcoin to Buy Now Amid Bitcoin Price Pump
The popular YouTuber ClayBro, who has over 129k subscribers, posted a positive video about Dogeverse. He highlights that there are just over seven days left to participate in the Dogeverse presale and advises against unrealistic expectations of immediate massive gains upon launch. He emphasizes the importance of the community and the long-term potential of Dogeverse.
ClayBro has heavily invested in Dogeverse and is considering adding more before the presale ends. He references other successful pre-sales and suggests that similar gains could be seen with Dogeverse, particularly with the current favorable stance of the U.S. administration towards cryptocurrency.
He stresses the importance of using the official affiliate link to avoid scams and describes the step-by-step process of buying Dogeverse using various wallets and blockchain networks (Ethereum, BNB, Matic, Avalanche, Base, Solana).
Dogeverse aims to be a multi-chain bridge allowing seamless transactions across different blockchains. ClayBro mentions that large investors (whales) are buying in, which could lead to high volatility on launch day. He expects both upward and downward price movements due to varying investor behaviors, with initial price increases ranging from 50% to 300%, followed by a stabilization phase.
Post-launch (early June), investors will need to claim their tokens from the website, and optional staking for up to 50% annualized returns will be available.
Conclusion
So, as we analyze the bitcoin price prediction, BTC chart, and BTC price forecast, it seems that the stage is set for a potential move towards $100k in June, especially if the previous all-time high is breached. Regarding altcoins, Dogeverse has garnered attention (raised over $15 million in crypto presale) from influential figures like ClayBro, who highlights its potential as potentially one of the best cryptos to invest in now.
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