$BTC 6.26 Bitcoin Market Analysis
After the adjustment, the increase in Bitcoin is expected to reach more than 100%, reaching around 110,000.
Two expected scenarios were given before:
Head and Shoulders Bottom Route: Between 63,000 and 64,000 US dollars, a head and shoulders bottom is formed and then the rise starts. Fall to around 63,000-64,000.
Double Bottom Route: Fall to around 55,000 US dollars, form a double bottom structure and then start to rise.
At present, there is a high probability of taking the double bottom route. If this wave of rebound can break through 64,000 US dollars, it is possible to end the adjustment and start a new round of rise. Otherwise, it is necessary to guard against the possibility of falling to 55,000 US dollars.
During the decline of Bitcoin, altcoins have begun to break away from following. This is a noteworthy signal. We recommend paying attention to the form of altcoins, such as ordi, pepe, turbo, etc., which may start before Bitcoin.
The closer to 55,000, the more long positions should be arranged. If it breaks through 64,000, it will fall back to around 60,000 to take long positions.