The BTC rate in the morning rewritten the level on June 24, immediately reaching $57,800. 

On this decline, the price broke through the EMA 200 daily TF at $58,295 and almost tested the volume level of $57,709 and the upward trend since mid-October 2023 (drawn by candlestick shadows).

At the same time, the EMA 200 daily TF has not been tested since October 2023.

The reversal signal on the four-hour timeframe of the#BTCchart was broken, and the fact that there was a threat of this was clear from the closing of the daily candle below the volume level of $61,231.

Let us recall quotes from yesterday's review: 

“...in the next 6 hours we are waiting for the establishment of a level and then an attempt at growth. The success of which will determine the ability of the bulls to recover above at least the volume level of $61,231 by the end of the day...

... If there is no return above $61,231 by the end of the day, breaking the signal on the four-hour time frame and continuing the decline will be a priority.”

The daily candle closed at the 0.236 Fibonacci level, the rate of $60,163. Not promising anything good. A downward structure has emerged on the daily TF, which, in the optimal scenario for the bears, could continue until July 10-11.

Good things for the bulls (survivors, after $231.79 million in liquidations in 24 hours):

- The price has recovered above the EMA 200 of the daily TF.

- The last four-hour candle closed with one of the largest bullish shadows in recent months. The last candle with a larger bullish shadow was back on April 19th.

-RSI remains above the downward trend since June 5 (but there has been a continuation of the downward trend).

As long as the price is above the EMA 200 of the daily TF, the scenario of a completed final landing is valid.

BUT for confident arguments for a reversal from the current ones through, for example, the “Double Bottom”, this is not enough yet. Below there is still a loy on May 1, that's $56,499. If it declines, withdrawing liquidity behind it and testing the volume level of $56,361 is the next target. In the event of a test, a re-evaluation will be required.

Let's set an alert for a breakdown of the downward trend from June 7th. This additional signal would improve the picture and give chances for a reversal through the Double Bottom.