Four trading weeks, during which sellers had every chance to continue a long and painful downtrend passed. Sellers were unable to implement their plan and without correction push the BTC price to $20,000. The last weekly candle closed above the opening price. And although the weekly candle of 30 May does not look very convincing, the local growth wave from March 2022 looks almost complete. An important question for buyers was whether there would be a rebound correction or a new growth wave. The answer did not take long. Source: https://www.tradingview.com/x/waVtUcOi/ The new trading week began with passions. On 6 June, buyers showed their ambitions and tested the mark of $31,500. On 7 June, sellers showed their ambitions, lowering the price to $29,500. Looking at the weekly timeframe – no significant changes in the chart. The price remained in a position where buyers have every chance to organize a new boost of growth with the first target of $34,500 and the final one $38,000-$39,000. If sellers manage to stay below the $29,000 range in the weekly timeframe, this scenario will become irrelevant. BTC Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/8WoOW4Pd/ Analyzing the BTC price movement on the daily timeframe, you can see a bright struggle for the next wave of price movements. Sellers were able to absorb the daily candle from 6 June in a few hours. However, the price remained in the global and...
