According to CoinmarketCap’s data, Bitcoin (BTC) decreased 1.12% last day. In particular, this slight reduction emphasized a week without another event that did not have a convincing price repayment in the extended corrective stage. Interestingly, the popular market analysts of X UserName of Crypto focused on Bitcoin’s latest rejection.
Bitcoin Bulls must take steps now -Analysts
In the X Post on June 20, the encryption Titan provides in -depth analysis of the recent rejection of Bitcoin. Premier Cryptocurrency started the price rally on June 20, started a $ 106,000 transaction, and faced a carefully selected rejection, forcing $ 103,157 or less.
According to TITAN of Crypto Analysis, Bitcoin’s rejection of fair value differences (FVG) has risen to the non -efficiency area, but could not pass. In the context, the FVG, as can be seen on June 20, left a area with almost or no transactions, with the price imbalance or inefficiency of the chart that moves too fast in one direction.
However, the FVG is in a larger symmetrical triangle, which is a general chart pattern that informs the integration period before the main price moves. As can be seen in the chart above, it is formed by two convergence trends, the narrow structure suggests that the pressure increases, and often leads to escape or failure when the market finds direction.
Based on the recent development, the BTC is tested and damaged by the lower limit of the symmetry triangle, showing a larger disadvantage. According to Crypto’s Titan, Bitcoin’s possible price targets include $ 102 and 679 for the previous week, and not acting as a powerful support area will forcibly forcibly force the price around the $ 100,000 psychological area.
Bitcoin market overview
In other developments, Sentora, a blockchain analysis company, reports that the number of trades and user participation increases by 105.8% on the scale of Bitcoin network every week. Meanwhile, there was a remarkable exchange leak of $ 26 billion, suggesting long -term market trust as investors moved to individual distributed wallets.
As mentioned earlier, BTC is trading at $ 103,402 with a loss of 1.88% and 7.02% every week. Meanwhile, daily asset trading volume increased 38.31% and worth $ 50.14.
BTC trading at $103,882 on the daily chart. Chart: Tradingview.
PEXELS’s main image, chart of TradingView.
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