Bitcoin Price Prediction for June 15: Consolidation Expected Between $103,000-$110,000

Bitcoin’s price has increased by 0.55% over the past 24 hours, currently resting at $105,462. Price movements suggest a sideways trading pattern within a range of $103,000 to $110,000 till month-end. Decreasing volumes indicate limited volatility expected in the near term.

As we look towards June 15, Bitcoin (BTC) seems to have seen a moderate uptick. Reports indicate a 0.55% increase over the last day. This comes from CoinStats, and underlines that this rally might be just what the bulls needed to re-enter the game. TradingView also provides insight into this latest movement.

On the hourly charts, Bitcoin currently sits comfortably in the middle of its local trading channel. Specifically, the support level stands at $104,923 while resistance is pegged at $106,130. Given that the price remains distanced from these key levels, it appears unlikely that any drastic movements will occur in the short term.

Looking at a broader timeframe, the circumstances seem to mirror the shorter term analysis. Overall, the price of Bitcoin is within the bounds of yesterday’s candle, indicating that we are likely to see continued sideways trading as we head further into the week. This scenario suggests stability rather than dramatic shifts in price action.

Furthermore, traders analyzing the weekly chart are advised not to anticipate increased volatility just yet. This prediction is further supported by the observed decline in trading volume, hinting at a consolidation phase. For now, Bitcoin is expected to hover within a range of $103,000 to $110,000 as we approach the end of the month.

At the moment, Bitcoin is trading at around $105,462 as of the latest reports. Overall, the crypto community seems to rest easy, anticipating a stable trading environment for the time being.