Bitcoin price consolidates within a descending wedge, potential breakout to signal bullish momentum

Bitcoin spot ETFs show continuous outflow from June 13 to June 21. BTC miners have also seen a decline in their reserves. Bitcoin price is trading inside a descending wedge, and a breakout above $64,600 signals a bullish move. Bitcoin price extends past week's decline and falls below $63,000 on Monday. BTC faces resistance amid ongoing outflows from Bitcoin spot ETFs over the past six days.

co/jE9dGqqnON — Michael Saylor⚡️ June 20, 2024 Technical analysis: BTC consolidates within a descending wedge Bitcoin price is trading inside a descending channel, drawn from multiple swing highs and lows between early June and mid-June, as shown in the daily chart below. BTC is currently testing support at $62,451, the 61.8% Fibonacci retracement level from a swing low of $56,552 on May 1 to a swing high of $71,995 on May 21.

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