The BTC rate dropped below $66,000, having updated its level since May 19. As they wrote in today’s post about the imminent reversal - “Locally, we can still move lower from the current ones and remove stops behind the nearest loys. But this is precisely the removal of stops and a bear trap.” We don't change the ratings.
We still believe that#BTCshould expect a rebound on June 16-17. BUT before the candles of these days close, the price can be dragged down, taking out the stops of the bulls and putting the bears in shorts. For now, it is important to see how today’s candle closes.
On the daily timeframe, it is important not to consolidate below the volume level of $65,892, for which there is now a struggle. It is especially important not to remain lower after June 17th. For now, the price may be below this level - this does not break expectations, although it indicates the strength of sellers.
If the decline below $65,892 becomes an impulse, the nearest support is the volume level of $64,120. Going there is not a priority scenario for us. And in general, an undesirable scenario for an uptrend. But a squeeze with a quick buyback and a candle with an expressive bullish shadow below is acceptable.
In the event of the rebound we expect for the reversal scenario, it will be very important to quickly return above the EMA of the 50 day TF. Which now lies at $67,000.
