Bitcoin fell 20% to below $60,000 in June, its worst monthly performance since the same month in 2022. If that number alone isn’t enough to worry bulls, the price chart, especially the monthly candlestick, might be.
The June candlestick, a charting tool that summarizes the entire month’s price action in a single image, looks like a solid red brick with virtually no wicks, a clear sign of complete and “uninterrupted” bear dominance throughout the month.
For anyone tracking price charts, that’s about as bearish a signal as it gets, and a warning that more losses could happen in the coming weeks.
A candlestick captures four data points for a given period: where the price opened, where it closed, how high it went, and how low it fell.
The body of the candle shows the open-to-close movement. The walls — the thin lines that run above and below the body, representing high and low — show how far the price traveled in either direction during that period.
Large wicks mean that buyers and sellers fought hard. A long upper wick means sellers are beating back a rally, while a long lower wick means buyers defended a sell. Either way, wicks are evidence of two-sided activity.
The June light
The June light has none of that.
