Bitcoin is close to $40,000, warning that Bitcoin price will correct before the bull market resumes

Bitcoin (Bitcoin) It was slightly close to $40,000 on June 3, as the bulls collected more and more bottom signals.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

BTC/USD is 36,000 USD next?

Data from Cointelegraph Markets Pro with Transaction view Shows that BTC/USD remains at the level recovered from the previous day, include The key is $37,500.

Now, people are paying attention to whether a breakthrough or rejection is confirmed in the next few days-volatility is Already predicted Enter before the weekend.

For the popular trader Crypto Ed, the market may need to perform another bearish test in the short term before taking revenge. At the same time, this may be a situation of grinning and familiarity.

“I think we were close to a reversal and correction before going up again the day before,” he said tell Twitter fans on Thursday.

“BTC reached 36,000 USD and ETH reached 2500 USD? It may be a boring day…”

he Add to He believes that BTC/USD will correct rather than continue to rise.

Bottom-finding indicators need attention

At the same time, two new indicators specifically trying to capture the bottom of the Bitcoin price were launched this week on the monitoring resource Glassnode and released to traders in a timely manner.

Created by David Puell, famous for his famous Puell Multiple indicator, Incremental upper limit with Equilibrium price Both provide clues that Bitcoin may have recovered.

“Watch for these confluences in the next bear market,” Puell Add to.

BTC/USD delta upper limit and price chart. Source: Glassnode

As Cointelegraph Report, Opinions continue to pay attention to the double top model similar to 2013 in Bitcoin this year.

In the previous two bull markets, the retracement from the local high was the standard leading to the final peak. Therefore, there is nothing unusual about the current behavior.This is the view of PlanB, the creator of inventory-to-flow this week In conversation Collaboration with podcast host Preston Pysh.