Skip to content

Blocksmith Says: Bitcoin Finds Support Level for Higher Bounce

There’s a lot of potential strong support below, both long and short-term and as we discussed in yesterday’s note the preferred view is that price is rising in a new 20-week cycle with an upside target around US$33,000 by end-July/early August.

Bitcoin’s price looks to be forming a base with the level to beat near term at US$23,210, which is the open on 14 June. It’s not uncommon for push up and pull back sequences to occur in these market phases.