BTC/USD The rise of Bitcoin (BTC) has risen by almost 1%.
Despite the rise, Bitcoin (BTC) is looking bearish on the local time frame, as the price is coming back to the support level at $26,700. If nothing changes, the breakout may lead to a further dump to $26,600.
On the daily chart, the rate of BTC has made a false breakout of yesterday's peak at $27,050. At the moment, traders should focus on the bar's closure. Related Bitcoin (BTC) Price Analysis for June 18
If it occurs with no long wicks, there is a high probability of seeing an ongoing decline to $26,400.
From the midterm point of view, it is too early to make any predictions as the candle has not formed yet. However, if buyers can get the price above the $27,700 mark, one can expect a further upward move to the $28,000 zone. Bitcoin is trading at $26,784 at press time.