The post Analyzing BTC Trajectory For Next Week? appeared on BitcoinEthereumNews.com.

Bitcoin seemed to be struggling to gain ground this week as the price slipped towards the $64,000 after the breakdown of a support near the $67,000. At the time of writing, BTC was hovering close to the $64,310 mark, recording a 0.23% rise intraday. Moreover, the breakdown below the recent support of $67,000 has dragged the price from a bullish to sideways trajectory. Further drawdown could increase the risk of falling towards the $60,000 demand zone. Also, the social metrics has been falling steadily over the recent sessions, highlighting the waning interest of the investors and community members. Let’s delve deeper and forecast Bitcoin’s potential path for the upcoming week. BTC Social Dominance and Social Volume Drops While Bitcoin has been declining slightly trend this week after the breakdown of the recent support. Moreover, the social sentiment curve is parallel to the price. The social metrics like social volume and social dominance curve seems to be declining since April indicating the waning interest of the investors and community members.  Moreover, the volume analysis showcases that the volume inflow had dropped by 40% a day and was $15.570 at the time of writing. Bitcoin is the market leader in the cryptoverse with a live market capitalization of $1.26 Trillion and 54.2% dominance.  What’s in For Next Week: 60K or 67K? Selling pressure seems to be low as several indecisive candlesticks have been observed in recent sessions. However, the absence of buyers at the lower levels points toward a possible risk of price crash towards the $60K mark.   Now, if the bulls make a comeback near the $64K and the price rebounds, it may indicate the termination of a correction phase. The bulls may reclaim their territory above the $67K.  Conversely, if the price fails to gain traction and breaks below…

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Filed under: News - @ June 23, 2024 1:12 pm