Navigating Today's Market Trends: Bitcoin Dump

6월 24일

What’s Bitcoin up to? Exactly what we feared. It’s completing the bull flag with a final test of the lows and potentially a bounce at the 200 EMA to reach new heights in the coming months. Why do we think this is a good reversal point? First, the 200 EMA, which hasn’t been tested since October 2023, is a bullish sign. Additionally, the highly oversold conditions on the 4-hour and daily charts historically indicate an imminent reversal. And let's not forget it’s Monday—our notorious trendsetter day. Before jumping to conclusions, we await confirmation of a bottom, ideally presenting as a V or W pattern.