$BTC 06.25Market update——
From the daily chart, Bitcoin has shown some key changes over the past few weeks. The solid $66,000 daily support level established earlier this year has recently been aggressively tested by bearish retracements. Therefore, to break through $70,000 before falling further, reclaiming and holding above that price level remains crucial.
Yesterday, after sweeping below the $59,000 low, Bitcoin exhibited the same rebound reaction as the last time it touched that level. On the positive side, the daily close held steady at $60,800, meaning there was no new daily closing price (i.e., it did not break below this line of defense). If the daily close falls below $60,800, the next move is likely to open the door to a drop toward $55,000.
At the moment, we are waiting to see whether the $60,000 to $66,000 range represents distribution (a sign before a decline) or accumulation (a sign before an uptrend).
Coins with higher volatility this morning include: ALICE, THETA, DYDX.
From the daily chart, Bitcoin has shown some key changes over the past few weeks. The solid $66,000 daily support level established earlier this year has recently been aggressively tested by bearish retracements. Therefore, to break through $70,000 before falling further, reclaiming and holding above that price level remains crucial.
Yesterday, after sweeping below the $59,000 low, Bitcoin exhibited the same rebound reaction as the last time it touched that level. On the positive side, the daily close held steady at $60,800, meaning there was no new daily closing price (i.e., it did not break below this line of defense). If the daily close falls below $60,800, the next move is likely to open the door to a drop toward $55,000.
At the moment, we are waiting to see whether the $60,000 to $66,000 range represents distribution (a sign before a decline) or accumulation (a sign before an uptrend).
Coins with higher volatility this morning include: ALICE, THETA, DYDX.