BTC Market Analysis 2026.06.17

When BTC broke below 60k, I mentioned that if it rose above the green Gann angle line 3/1 (60,800), it was likely to rebound. Knowing and doing as one should, after BTC crossed that level, I took all short positions off the table. Recently, BTC's rebound has reached 13.8%. What's next?

The next two days are very critical. The rebound strength over the past couple of days looks okay on the hourly chart, but every time the daily candle closes, it becomes disappointing. Both of the last two daily candles closed below the blue Gann angle line 2/1 (66,300), which is not a good sign.

To determine whether BTC can break through a key level, at least 2-3 four-hour candles need to confirm it, sometimes even requiring daily confirmation. Ultimately, this is because BTC has too many false moves on smaller timeframes.

In the coming days, BTC must break and hold above 66,300; only then can the rebound levels from 59,100 potentially expand. Whether the smaller timeframes can rise to 68,191 or 69,338 is not as important as closing above 66,300 on the daily chart and not falling back below this line on a retest. If it cannot hold here, no matter how high the hourly and four-hour candles are pulled, they might just be a false move in hindsight. #btc $BTC