$BTC 06.27 Market Update -
At last night’s daily close, Bitcoin broke below the $60,800 daily support level we’ve been watching. This has pushed Bitcoin to the lowest daily closing price since September 2024. As of today, we can see that the current candlestick is attempting to reclaim that level, but is being rejected.
Simply put: If Bitcoin can reclaim $60,800, then we can again view the $60,000 to $66,000 range as the mid-term consolidation zone. However, as long as price remains below $60,800, the likelihood of a further move down toward around $55,000 increases significantly.
The cryptocurrencies with higher volatility this morning include: AXS, APE, and AAVE.
At last night’s daily close, Bitcoin broke below the $60,800 daily support level we’ve been watching. This has pushed Bitcoin to the lowest daily closing price since September 2024. As of today, we can see that the current candlestick is attempting to reclaim that level, but is being rejected.
Simply put: If Bitcoin can reclaim $60,800, then we can again view the $60,000 to $66,000 range as the mid-term consolidation zone. However, as long as price remains below $60,800, the likelihood of a further move down toward around $55,000 increases significantly.
The cryptocurrencies with higher volatility this morning include: AXS, APE, and AAVE.