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$BTC 6.19 Bitcoin Price Trend Analysis
Starting from a decline from 126,000, a large-scale WXY structure has formed on the same level twice. Currently, it is the second WXY's X wave rebound.
The first WXY's X wave rebound lasted over 50 days, while the current second X wave rebound has only been 13 days, so the rebound cycle is still insufficient.
The smaller timeframe has broken below the lower boundary of the upward channel, confirming the high point of wave a, and the downward target of wave b is uncertain.
No signs of a trend reversal have been observed yet; confirmation is needed, after which wave c is expected to rise.
Risk Warning: This is only an analysis of market structure and does not constitute any trading advice.
#btc # Bitcoin Forecast