Bitcoin Market Trend Analysis 20250618

The hourly level saw a rebound from an oversold condition yesterday morning, followed by a continuous decline starting at noon, leading to a sequence of 13 consecutive bearish hours. After the US stock market opened, there was a quick drop to a low of around 103371 (Binance spot price), followed by a rebound starting in the early hours, with the current price around 104690.

The daily chart shows a slightly long bearish candlestick with upper and lower shadows. The trading volume increased by about a third compared to the previous day, and the price still has not effectively broken through the resistance of the daily MA30 line. After a brief upward movement, it fell back to near the daily EMA52 line before rebounding.

The daily EMA52 line still provides support, but it will weaken over time, and the strength of the rebound will diminish due to multiple failures to break through effectively.

There will still be a rebound during the day today, followed by a continued downward testing trend.

The daily level resistance is at 106800-110300-120400-130000, and the support levels are at 102800-97670-95860-93530.