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Sjuul Follings warns that BTC is approaching a critical point, with the cryptocurrency close to its first bearish market structure break since the start of a local uptrend several weeks ago.
Follings indicates that bulls need to quickly step in and protect the $76.3K price level to avoid potential downside volatility on the low time frame.
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Follings has recently flagged activity in other digital asset markets as well. He suggested in late May that an Ethereum-based RWA token could be preparing for a major breakout. Earlier, he commented on the launch of a $500,000 crypto reward event through the partnership of LBank Exchange and Pudgy Penguins, which featured bonuses for new users and enhanced yield offerings, according to previous coverage.