{"id":27848,"date":"2026-06-26T07:30:00","date_gmt":"2026-06-26T11:30:00","guid":{"rendered":"https:\/\/jeffclarktrader.com\/market-minute\/?p=27848"},"modified":"2026-06-25T14:43:12","modified_gmt":"2026-06-25T18:43:12","slug":"the-king-of-cryptos-is-bouncing-again","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/the-king-of-cryptos-is-bouncing-again\/","title":{"rendered":"The King of Cryptos Is Ready to Bounce"},"content":{"rendered":"\n

Bitcoin is setting up for another speculative trade. <\/p>\n\n\n\n

We\u2019ve traded the King of Cryptocurrencies a couple of times so far this year. We were buyers of Bitcoin last November<\/strong><\/a>. That trade was profitable, with Bitcoin bouncing 12% in just a few days.  <\/p>\n\n\n\n

We took another bullish trade in early February<\/strong><\/a>, as the King of Cryptos tested support near $75,000. This trade took a bit longer to play out though, as it started in the wrong direction. Bitcoin sliced through support and trading as low as $62,000 before reversing. <\/p>\n\n\n\n

If you held onto the trade, though, as we suggested<\/strong><\/a>, Bitcoin rallied back towards $82,000 and patient traders had a chance to book a profit. <\/p>\n\n\n\n

Recently, the King of Cryptos has been falling again. It closed near $61,000 on Wednesday. Investor sentiment is bearish. And, many of the financial television talking heads are suggesting sharply lower prices for bitcoin in the months ahead. <\/p>\n\n\n\n

I disagree. It looks to me like bitcoin is setting up for another bullish move.   <\/p>\n\n\n\n

Take a look at this chart\u2026 <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Bitcoin is currently testing support near the $61,000 level. This is the second test of that resistance in about a month. The first attempt, in early-June, was successful. Bitcoin bounced and ran back up towards $66,000.   <\/p>\n\n\n\n

For the past two weeks, though, Bitcoin has been falling again. It is testing support. And, with this being the second attempt, the odds of a breakdown are higher. A sustained move below $61,000 could lead to an immediate flush lower to $57,000.  <\/p>\n\n\n\n

I will be buying bitcoin on that move. <\/p>\n\n\n\n

Notice how, over the past two weeks, as bitcoin has been falling, the momentum indicators at the bottom of the chart have been rising. This sort of \u201cpositive divergence\u201d is a sign the selling momentum is fading. It\u2019s often an early warning sign of an impending rally. <\/p>\n\n\n\n

It\u2019s also worth noting that if bitcoin falls to $57,000 it will be trading about 20% below its 50-day moving average line. That\u2019s an extended, oversold condition. Bitcoin rarely trades more than 15% away from its 50-day MA before reversing course and heading back towards the line.  <\/p>\n\n\n\n

To be clear\u2026 <\/p>\n\n\n\n

I\u2019m not buying bitcoin yet. The chart still shows some short-term downside potential. <\/p>\n\n\n\n

But, if bitcoin falls a bit more and gets closer to the $57,000 level \u2013 while the momentum indicators hold above the early-June lows \u2013 we\u2019ll have the sort of setup that often marks a bottom for the King of Cryptocurrencies. <\/p>\n\n\n\n

That\u2019s where I\u2019ll be buying it. <\/p>\n\n\n

Best regards and good trading,<\/p>\n

\"Signature\"<\/p>\n

Jeff Clark
\nEditor, Market Minute<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin looks like it\u2019s setting up for another speculative trade.<\/p>\n","protected":false},"author":2759,"featured_media":0,"comment_status":"closed","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-27848","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"ai_tts_audio_outdated":false,"ai_tts_content_changed_during_generation":false,"ai_tts_legacy_post":false,"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/2759"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=27848"}],"version-history":[{"count":6,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27848\/revisions"}],"predecessor-version":[{"id":27869,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/27848\/revisions\/27869"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=27848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=27848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=27848"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=27848"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=27848"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=27848"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=27848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}