In recent days, the BTC rate has been able to gain a foothold at important supports. Pointed out in reviews on June 4th:
- volumetric and psychological level $69,000,
- downward trend since May 21.
Other expectations also apply:
- As long as the price is above the downward trend since March 14, it goes to the new ATH.
- To be confident in growth, it was important to gain a foothold above this trend with daily candles on June 4 and 5.
The condition is met. The price has also been holding above the global uptrend since January 2023 (indicated by the dotted line). Which acted as resistance until the end of February 2024. And from February to April she acted as support.
The asset continues to look bullish.
Yesterday's daily candle with a bearish shadow below is a little confusing. Therefore, to confirm the uptrend without correction, you need to close today’s daily candle above the volume level of $70,780 or at least above the psychological $70,000.
The upward candlestick structure remains on the daily TF. If today's daily candle does not close bearish, we can expect more growth, at most, until June 9-10. And then correction or range. UNLESS there is a word of rising structure in the coming days.
The BTC price volatility index maintains a downward structure. And if the trend continues, it may decline even before June 10-11. Again - while maintaining the downward structure of the candles. But volatility is now at extremely low levels, so a breakdown could happen any day.
