From the 1-hour, 4-hour, and daily charts, BTC's current trend is in a short-term rebound phase, but overall it is still struggling within a downward structure. The current price is around 101900. Reviewing the sharp drop that touched the low of 100305 on the night of June 5, it quickly rebounded. It is currently in a technical recovery after an oversell.
1-hour chart (short-term perspective):
A bottom-fishing K-line combination has appeared, with a bullish candle engulfing the previous low, but the rebound momentum is weak;
Multiple moving averages are still showing bearish divergence, especially the MA10 and MA30 have not formed a convergence, indicating clear short-term pressure;
The BOLL bands are widening, with the lower band support near 100573 and the upper band resistance at 105063. The current middle band is at 102818, which is the first short-term target.
4-hour chart (short to medium-term perspective):
The price is still operating between the Bollinger lower band and the middle band, with a weak structure;
The previous long lower shadow bullish candle indicates that there is a willingness to buy, but the rebound process lacks sufficient volume support;
If the bulls want to continue the rebound, they need to strongly break above the 103500 area (converging position of MA10 + EMA10) for continuity.
Daily chart (large structure):
The daily candlestick with a large bearish engulfing pattern covers the recent consolidation area, and the moving average system has turned down for the first time;
The SAR indicator has continuously turned green, and the bearish advantage has not yet been eliminated;
If today's candle closes bullish, it would only be a repair rebound after a deep drop.
Trading suggestion:
Opening position: 102050
First position: 103200
Second position: 104200
Stop-loss position: 100900
