BTC Technical Analysis: Strategic Defeat Of Sellers Around $29,000

The new trading week of 13 June ended as badly for investors as the previous one. The BTC price updated the local lows of the previous consolidation and visited the price range where it was last in 2020. Buyers lost control of the $29,000 range. Now is not the time to talk about a new global growth wave. The breakdown of this range occurred during the trading week of 6 June. Yes, before that, sellers also lowered the price below $29,000. However, during the trading week on 6 June, the price confidently closed below this mark. The final retest of $29,000 is still missing. Source: https://www.tradingview.com/x/Yu33uI2c/ If sellers keep the $29,000 mark during sellers’ attack, the aim should be to continue the BTC fall in the medium term. The main target from which a powerful price rebound can occur is in the range of $18,000-$20,000. At the time of writing, there is only one question – will sellers be able to achieve this target without correcting the price up? BTC Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/nvhNuuYo/ Analyzing the movement of BTC price on the daily timeframe, we can see that the initiative of sellers is not happening at high volumes. Yes, trading volumes starting from 7 June are higher than during the consolidation before. However, compared to the fall wave on 9 May, the volumes are now not high enough to speak of the culmination of sales. Bitcoin buyers will have a chance to...