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6.14 Weekend Market Overview: Is BTC Going to Rebound?

Bitcoin formed a hammer candlestick with a lower shadow this morning. Will there be a wave of rebound over the weekend, or should we wait until tomorrow evening when the U.S. stock market opens?

Bitcoin has retraced back after breaking the daily support, indicating that the support from October 3rd plays a strong role. Perhaps the market will see a V-shaped rebound; if it doesn't happen this weekend, maybe next week will bring a rebound. After all, the war in Ukraine has already been decided, and time will help people forget. Retail traders will start to return to the market.

Bitcoin is forming an ascending triangle, waiting for a pullback to the 10.51 resonance position without breaking it or a drop below to re-enter long positions, with a stop loss at the breakdown point and targets at 10.63 and 10.68. Conversely, if it breaks below 10.51, a strong bearish candle could lead to short positions, with a stop loss at 10.59 and targets at 10.36 and 10.3. For lower long positions, still set a limit at 10.3 with a stop loss at 10.26, targeting 10.51 and 10.63, while keeping a trailing stop at 10.68.

Although the market has dropped significantly in the past two days due to the war, Bitcoin's spot ETF is still seeing stable net inflows, indicating that the market is still optimistic about Bitcoin's rebound and the arrival of a bull market.

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