A look at BTC

Jun 3, 2022

Analyzing the BTC chart, we can say that the best option technically would be to test the highs of late 2017-early 2018. This area is indicated by the white rectangle . Support of 29-30k is no longer relevant, after a price squeeze to 26k levels. No bright bounce followed, we see sideways movement and this usually indicates a retest of price to ~26k levels. I see more chances for the continuation of the downward movement because of the weak dynamics of the instrument.