Weak start of a new trading week for Bitcoin

The beginning of a new week does not bode well for the digital market, at least if judged by the main digital currency - Bitcoin market chart. Bitcoin price failed to succeed in overcoming the mark above $7755 dollars - the strategic level of resistance, under which the market is traded during the second week. This is not an easy task for Bitcoin, given current market levels, besides there is a descending trend line close to the level, which starts on May 6 at $ 9700. If in the coming trading sessions, bulls will not resume attempts to seize the initiative, supported by the growth in volume, Bitcoin dropping to levels of $6500 will almost inevitably.

Corrective rally from $7020 to $7755 caused some optimism, especially among short-term bulls, as on analytical resources there were talks that the Bitcoin price would recover to $10000 in June. Although the target at $10000 is still in play, another correction is likely to occur in the next few days, but this time downward correction given that the corrective rally from $7040 stopped at $7755, and then Bitcoin fell to $7450 dollars.

June 4 daily candle was to become a major short-term market breakthrough, rising above the monthly downtrend from 6 May and actually creating a bottom at $7020. However, this did not happen, as the closing shorts most likely triggered the latest growth. The market capitalization at the beginning of the American trading session is at the level of $339 billion.

FortFS