Current Market Situation
Date: 20/06/2024 Polish time 12:06
Current Price: Approximately $65,500 - $68,000, depending on platform
Trends: Strong upward trend, supported by technical indicators and positive market sentiment.
Correction Height
Based on the market analysis, the possible correction could be between 20% and 27%, which would mean a drop to a level between $52,000 and $58,000.
This correction is supported by:
Technical Indicators: Bearish divergence in RSI suggests a possible decline.
Fundamentals: A large portion of investors are currently in profit, which could lead to profit-taking and price declines.
Application
Current market conditions and technical analysis indicate the possibility of a short-term correction. If you plan to go long, it is recommended to be cautious and monitor technical indicators and support and resistance levels.
The optimal moment to enter may be a drop to the level of USD 52,000 - 58,000.
