Bitcoin price flashes buy signal but the upside remains capped

Updated: 8 Jun. 2021 | 20:31

Bitcoin price seems bound for a short-lived correction.
A spike in selling pressure could push BTC to 30,000.
If this support level holds, the flagship cryptocurrency could rebound to $42,000.

Bitcoin price has presented a buy signal. Still, BTC seems bound to retrace before rising above $40,000.

Bitcoin price to retrace before the next jump

In the following video, FXStreet’s analysts evaluate where Bitcoin price could be heading next after flashing a buy signal on the weekly chart.

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