💎 BTC PLAN UPDATE (June 16)
NOTABLE BITCOIN (BTC) NEWS:
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of stabilization around key support levels following last week’s correction. BTC is attempting to regain momentum after closing below a critical support zone, while ETH and XRP are hovering near technical thresholds that could determine their next directional move.
TECHNICAL ANALYSIS OUTLOOK:
Bitcoin could decline further if it closes below the 50-day EMA
Bitcoin closed below its daily support at $106,406 on Thursday, then bounced back after retesting the 50-day Exponential Moving Average (EMA) at $102,893 on Friday. BTC has since stabilized around the $105,000 level over the weekend. As of Monday, it continues to consolidate, trading near $105,788.
If BTC fails to close above the $106,406 resistance level and heads lower, it may extend its decline toward the psychologically significant $100,000 level.
The Relative Strength Index (RSI) on the daily chart is hovering around the neutral 50 mark, signaling indecision among traders. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover on the daily chart, indicating selling pressure and a possible downtrend continuation.
At this stage, whether you're new or experienced, it's wise to spend more time practicing, deepening your technical analysis knowledge, and exploring educational content shared on the [...] channel. Strengthening your foundation will help you protect your capital in this volatile environment.
==> This analysis is for trend reference only. Wishing all investors successful trades!
