FX.co ★ Technical Analysis of Intraday Price Movement of Bitcoin Cryptocurrency, Friday June 16, 2023.

If we look at the daily chart, the Bitcoin Cryptocurrency appears to be in a Bearish condition, which is confirmed by both price movements with the CCI indicator (30), both of which are in a downward channel and price movements are below the Moving Average, coupled with the appearance of the Bearish 123 pattern which is followed by the Bearish Ross Hook (RH) so that in the near future Bitcoin has the potential to depreciate down to the level of 24753.33c, and if this level is successfully broken down, then Bitcoin has the potential to continue its decline to the level of the area 21301.03 - 20879.23 but if it is on its way to the level -The target level suddenly underwent a significant upward correction, especially if it manages to break above the 29989.68 level, then all the downside scenarios described earlier will become invalid and cancel automatically.

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