Brief update on the BTC situation as of June 20.
Compared to yesterday evening, the bulls slightly improved their positions, but the price only reached the volume level of $65,892 and the Fibonacci level of 0.618 (rate of $66,148). The first of the resistances. Even if they break through further, the pool of resistance in the range of $66,800-$67,400 is much more difficult for the bulls.
The good news is that on the four-hour timeframe of the#BTCchart, an ascending structure has emerged, which, under a positive scenario, could last about another 24 hours. This time is a window of opportunity for the bulls. But we will monitor the risks of breakdown. Of course, without consolidation during the day above $65,892 and $66,148, a breakdown will occur. Yesterday evening they wrote that in order to grow without a “Double Bottom” or even update the level, you need to consolidate above these levels in the next 24 hours.
While these levels have not been broken, but have already been tested, the priority from yesterday’s review is working out bearish signals.
But in general, our expectations are the same - a rebound to the named targets and, possibly, a reversal in the near future. The only question is whether the loy will still be updated on June 18th.
