Lower highs since the 82.7K top; double bottom carved at 59-60K.
BTC topped near 82.7K and shed roughly 28% over three weeks into a 59K cycle low, with a second test near 60.7K forming a double-bottom base. The current leg back to ~65.6K is a relief bounce off that base — supported by the benign US CPI/PPI prints and easing oil — but it remains below a falling EMA(50) near 71K, keeping the multi-week structure pointed lower. Price has reclaimed EMA(20) yet RSI(14) at ~35 shows momentum still subdued after the slide.
What it said to watch
FOMC + dot plot Jun 17 18:00 UTC is the dominant catalyst and can reset this read
Daily close above the 67,600 supply wall would extend the bounce toward the EMA(50) near 71K
Failure to hold the 59-60K double-bottom zone confirms a fresh lower low
Lower highs/lows off Apr top, bounce off 59K double bottom.
BTC remains in a multi-week correction off the ~$82.6K April high, a chain of lower highs and lower lows that printed an early-June low near $59K. A ~10% relief bounce off that $59-60K double-bottom zone — fuelled by benign US CPI/PPI and US-Iran de-escalation — has reclaimed EMA20 but is still capped below a falling EMA50 and stalling under the $67.6K supply wall. Price is consolidating in a recent range around $63-65K as the rally meets resistance.
Support: 60,000.00
Resistance: 67,600.00
What it said to watch
FOMC Jun 17 dot-plot is the dominant catalyst and could reset this read
Daily close above 67600 supply wall would challenge the downtrend structure
Failure to hold 60000 double btm reopens the $59K cycle-low retest