Month: June 2022

After hitting a low near $17.5k and reversing back above $21k, BTC has been trading mostly sideways. So far, it has failed to move above the $22K, which hints, the momentum is still to the downside.

The capitulation in cryptocurrency market continues. Bitcoin suffered the largest single day drop since march 2020, as the price dropped by almost 30% in the last 7-days.

Bitcoin dropped below the $28k level it had maintained couple of days ago. BTC is presently trading below $28k and experiencing severe volatility. The last 30 days of the 60-day cycle have been on the decline which give the entire market, a complete bearish outlook.

Bitcoin is still consolidating around the $30K level, as the bulls and bears are fighting to establish control over this area and decide the next direction. Bitcoin is now into its fifth week of holding at this level.