Market Update — June 2021

Our Observations (Not financial advice)

Key Takings

  1. Technical analysis: TA indicating slowing and potential bottoming of downward trend. Move above MA 200 levels would confirm that direction. Bottom forming to be watched carefully, since price is still below two crucial supports and no bottom has been formed in the last weeks. (neutral / bearish)
  2. On-chain analysis:
    a) Despite this risk of further dropping BTC/USD prices, long-term holders seem to resume to accumulate BTC liquid supply. (bullish)
    b) RHODL ratio indicates that…