#BITCOIN Daily Analysis #BTC $BTC 07.06.2021

As forecasted, $BTC today went up, but was strongly rejected at ~$36600. Everything points towards much lower prices ahead. Let’s explore this hypothesis in details from different angles.

Candlespeak & Elliott Waves
Today $BTC formed a strong bearish continuation candle with the supporting technical indicators. I am expecting the downtrend continue, possibly with acceleration.

If the wave follows the most probable Fibonacci proportions, as indicated on the chart below, the coin could reach the $29000-31000 area in the next few days. There it is expected to take a pause and retrace, possibly to $32000. After that, it could continue down to 25000-26000.

The triangle formation seemed to be broken downwards, below is the chart with the perspective targets for $BTC, $ETH, and $ADA.

So far, there is nothing bullish in the picture.

Follow the blog in Twitter @InvestingAngles or by email subscription. Remember to Like and Retweet to express your opinion about the content.

Previous Weekly Analysis:

Previous Monthly Analysis:

One thought on “#BITCOIN Daily Analysis #BTC $BTC 07.06.2021

Comments are closed.

%d bloggers like this: