Daily BTC analysis 23-June-21

Bitcoin seems to form a hammer candle, but we also need a follow up with a green candle to confirm the local bottom. We have a mix of good and bad news in the last few weeks which has definitely sent investors/traders into a panic and confusion. So far we have bounced of expected demand zone, let's see if we get back above 40K.

But overall looking at the fear in the market, and bounce off the support, Risk to Reward for long here is good, with SL below $28850

Happy Trading!
BTCUSD