Update 7/6/2024…

Update 7/6/2024

Bitcoin held above the daily demand zone and has given a good 6% bounce from the lows of $54.4k. Considering we have just seen a big move, and it is the weekend, I expect that we see low volume today.

We are already seeing signs of choppy price action. I do not rule out a sweep of $54k/ $53k again in the coming days, and I am also looking for a daily close back above $58.2k. This would signal acceptance back into the previous range and a reclaim of the Daily EMA200.