FX.co ★ BTC analysis for June 22,.2020 - Watch for buying the dips intraday. Upward target set at the price of $9.640

News:

Bitcoin held on exchanges hit a two-year low this month, according to data from Santiment. A massive outflow of BTC from exchanges is a sign of accumulation and signals investor's positive perception of the cryptocurrency.

Technical analysis:

BTC has been trading upwards. The price tested the level of $9500. I see potential for rise towards the $9,640 and $9,895.

Trading recommendation:

Watch for buying opportunities on the BTC due to breakout of the slope pattern in the background and potential end of the intraday downside cycle.