Bitcoin fell by 20% to under $60,000 in June, marking its worst monthly performance since the same month in 2022. If that figure alone isn’t enough to alarm bulls, the price chart — particularly the monthly candlestick — may indicate further downside.
The June candlestick, which charts the month’s price movement into a single bar, resembled a solid red brick with almost no wicks — a stark indication of uninterrupted bearish pressure throughout the month.
For anyone monitoring price charts, this is one of the most bearish signals possible, warning of further losses in the weeks ahead.
A candlestick condenses four key data points for a given period: the opening price, closing price, high, and low.
The candle body reflects the move from open to close, while the wicks — thin lines extending above and below the body — indicate the period’s high and low, revealing how far price traveled in either direction.
June’s Price Candle
The June candle exhibits none of these bearish characteristics.
