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Breaking News: Bitcoin Correction Timeline: Analyst Predicts Potential Bottom In October 2026

Bitcoin Price Weekly Analysis – $350 is in Sight?

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 7:40 am
2 mins read
Bitcoin Price Watch; Here's what we're looking at.

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Bitcoin Price Key Highlights

  • The Bitcoin price continued to rocket higher and our bullish bias paid off in the near term.
  • There are many positive signs emerging for the price and the idea of buying dips is still a good option.

Bitcoin price traded above the $300 level and it looks like it might test the $350 area if buyers stay in control.

Buyers to take the price higher?

The Bitcoin price surged higher this past week, as the 4-hours chart clearly speaks a lot about how buyers were in control. The price broke a monster resistance area of $300 and the price even closed the week above the mentioned area. A new weekly high was formed around $335 where there is a minor resistance noted. There is a bullish trend line formed on the 4-hours chart, which might act as a support if the price moves lower from the current levels.

Bitcoin Price Weekly Analysis

The price already corrected once towards the downside and tested the 38.2% Fib retracement level of the last leg from the $280 low to $334 high. The Middle Bollinger Band was also aligned around the stated area and prevented the downside. If the price has already completed a correction once, then there is chance that it may break the last swing high and head towards the next resistance area of $350. If buyers manage to take the price further higher, then you never know the price might even challenge the $400 barrier in the near term.

On the downside, the 38.2% Fib level is a pivot area, followed by the 50% Fib level and the trend line support area.

Intraday Support Level – $310

Intraday Resistance Level – $335

The 4H RSI and MACD are in the bullish zone, which means there can be another move higher.

 

Charts courtesy of Trading View

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Comments 4

  1. tnizzle says:
    10 years ago

    How much success have people had with buying and selling bitcoin? I bought $200 worth when it was at $314/bitcoin, and I’m curious how much people generally lose in fees and all that and what’s the easiest, cheapest, and fastest way to sell bitcoin.

    Reply
    • tnizzle says:
      10 years ago

      Understandable, thanks.

      Reply
  2. Aayush Jindal says:
    10 years ago

    I hope you trust my analysis now 🙂 Price is above $350…

    Reply
    • Elise says:
      10 years ago

      I hope you bought some. If not, you still can. This ride is only JUST GETTING STARTED. Hold on tight folks!!

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 4

  1. tnizzle says:
    10 years ago

    How much success have people had with buying and selling bitcoin? I bought $200 worth when it was at $314/bitcoin, and I’m curious how much people generally lose in fees and all that and what’s the easiest, cheapest, and fastest way to sell bitcoin.

    Reply
    • tnizzle says:
      10 years ago

      Understandable, thanks.

      Reply
  2. Aayush Jindal says:
    10 years ago

    I hope you trust my analysis now 🙂 Price is above $350…

    Reply
    • Elise says:
      10 years ago

      I hope you bought some. If not, you still can. This ride is only JUST GETTING STARTED. Hold on tight folks!!

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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