It also appears that the Bitcoin price is stabilizing within a bearish flag pattern.
This pattern forms when the price bounces inside a parallel channel with an upward slope after a sharp drop. In other words, this bounce may simply be a temporary pause before another downward wave, not the start of a new bullish trend.
As a general rule in technical analysis, the bearish flag pattern confirms the validity of the prevailing downtrend when the price breaks below the lower trend line of the pattern at the level of عل#SPCXxIPOCampaignOnBinanceWallet م. The measured downside target equals the height of the prior selling wave, estimated from the breakout point.
This places Bitcoin’s downside target near $57,800 in June, a drop of about 7.6% from current levels.
A Bitcoin rebound scenario following its price rise is also possible.
Conversely, a clear breakout above the resistance intersection point—which is formed by the moving average البس$BTC ط over a period of 20, the simple moving average over a period of 50, and the upper trend line of the flag—would weaken the bearish flag structure and invalidate the immediate bearish setup.
This pattern forms when the price bounces inside a parallel channel with an upward slope after a sharp drop. In other words, this bounce may simply be a temporary pause before another downward wave, not the start of a new bullish trend.
As a general rule in technical analysis, the bearish flag pattern confirms the validity of the prevailing downtrend when the price breaks below the lower trend line of the pattern at the level of عل#SPCXxIPOCampaignOnBinanceWallet م. The measured downside target equals the height of the prior selling wave, estimated from the breakout point.
This places Bitcoin’s downside target near $57,800 in June, a drop of about 7.6% from current levels.
A Bitcoin rebound scenario following its price rise is also possible.
Conversely, a clear breakout above the resistance intersection point—which is formed by the moving average البس$BTC ط over a period of 20, the simple moving average over a period of 50, and the upper trend line of the flag—would weaken the bearish flag structure and invalidate the immediate bearish setup.