According to Bloomberg, using various indicators and data from the derivatives market, the June crash of Bitcoin is most likely almost over.

According to experts, the worst stage of bitcoin is over, the bear market is bottoming out, while everything fits into the usual timeframes we have seen before.

The Demark indicator and its fluctuations indicate that Bitcoin is at the mark, after which a trend reversal usually occurs. In this case, the rate is expected to start growing.

Bitcoin’s Relative Strength Index (RSI), which has fallen to 30 and is in the “oversold” zone, also indicates a halt in selling. From the same level in 2018, the strongest rise of bitcoin began.

The selling pressure is easing so in the near future the trade is expected to be in the $20,000 to $25,000 range.

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Source: IXBT

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