BTC analysis on June 5:
I told you guys in yesterday’s morning analysis that Bitcoin fell at a small level to test the bottom support range. It rebounded after falling but failed, which meant testing the upper pressure range. As expected, Bitcoin started to strengthen last night. It has risen so far, with the highest rise to around 71,400, which is within the pressure range mentioned by the master!
Trend: The daily and four-hour lines have broken through to the top of the flag channel. Combined with the monthly line, the trend has further strengthened. The retracement after the breakthrough has not yet appeared. Now we need to observe whether the current pressure range can be broken through. If it can break through, it will take a shock upward structure. It is possible to hit $78,000 this month. If it cannot break through, it will be re-shuffled and the market will start again!
Focus points:
Upper pressure 72,200-73,000
Lower support 70,200-69,800
