Daily Analysis of Cryptocurrency Market (6.17)
Summary:
In previous days, it was repeatedly mentioned that the rebound of Bitcoin was just a dead cat bounce. In the early morning, the price touched the strong resistance at 108800 and quickly fell back. This morning, it rebounded at the upper track of the 30-minute center at the 106166 position. Currently, the third leg of the pink daily line can be assumed to have started at 108900. Confirmation of the third leg requires waiting for a break below 102600. A break and rebound would lead to mindless shorting with various additional positions. Regardless of how the internal white 4-hour fluctuates, there will ultimately be a missing leg to exit. The target for the downward movement of this pink daily line remains unchanged at 93000-96000. From this range, the last leg of this bull market weekly line will emerge to conclude the entire upward trend. The intraday upper pressure is at 108700, 107900, and the lower support is at 104800, 103700. Always pay attention to high-position spike events.
Intraday Operations:
Short around 107900
Long around 104800
