Technical analysis by belalb3 about Symbol BTC on 6/24/2024

Bitcoin recently faced resistance at approximately $70,000 in early June and has since declined, trading in the low $60,000 range. Downside Risks: Should Bitcoin close below $60,000 on a higher-term timeframe, it could signal a major reversal, potentially pushing the price down to the low $50,000s Bullish Scenario: Maintaining above $60,000 and especially closing above $64,000 would indicate a potential bullish reversal. Bearish Scenario: Closing below $60,000 could lead to a significant downside, possibly reaching the mid $40,000 range.