Today, BTC has fallen below $30,000 again. The US and Japanese stock markets are all bearish. It is believed that the risk-off market is a factor.
Forming a descending wedge most recently, the breakthrough caused by this decline was also a major factor in the decline.
Bitcoin has been touching $30,000 several times since mid-May, when it plunged from its highest price. It has recovered and rebounded at an early stage. However, there has been no significant repulsion for this point. It is clear that buying demand is lower than before.
If no strong repulsion is seen as it is, we can expect $24,000 towards late July.
On-chain data suggests additional whale purchases, will $20,000 - $24,000 be the reversal point for the up market?