Bitcoin Testing A Critical Support After Sharp Market-Wide Selloff
Bitcoin is facing a pivotal moment after a sharp market-wide selloff dragged prices toward a major support level. As bearish momentum begins to slow and signs of buyer interest emerge, the coming days could reveal whether this zone becomes the foundation for a rebound or the gateway to a deeper correction. Bitcoin Loses Previous Monthly Low As June Begins Analyzing Bitcoin’s outlook for June, Lennaert Snyder observed that BTC started the month by breaking below the previous month’s low, a development that has weakened the near-term technical picture. In his view, this early loss of support makes a move toward the prior monthly high near $82,800 significantly less likely. Related Reading: Bitcoin’s Market Structure Reflects The Influence Of Major Investors The analyst explained that monthly clearout candles are relatively rare occurrences, reducing the probability of Bitcoin reclaiming higher levels in the short term. Attention is now shifting toward a major support zone that could inf