6.18 Young Master Zhao Discusses Trends: Bitcoin (BTC) Market Analysis Reference

Bitcoin rebounded after testing around 103,300 yesterday, and as of the time of writing, the price has rebounded nearly 2,000 points. Currently, the coin price is running around the 104,500-105,000 line, but it has not broken through the short-term resistance at 105,500, and the market is hindered, entering a consolidation pattern. Short-term fluctuations continue to be narrow, with prices oscillating around 104,500. Up to now, the price fluctuation range is only about 700 points, and the oscillation pattern has not broken through.

Looking at the short-term chart, the trend is running in the area below the middle track, with prices maintaining consolidation in the short term. However, the lower track gap has been opened, and daily support and moving averages are slowly moving downwards. If the price fails to break through the resistance around 105,500-106,000, there is a possibility of further downward testing. Please be prepared. Support below is focused on around 103,000, 101,500, and 100,500, while the upper focus is on the breakthrough stabilization situation at 105,500. It is still recommended to mainly short on rebounds.

6.18 Bitcoin Short-term Reference:

Lower test entry point 104,800-105,500, stop loss: 500, defense 1,000, target below 103,000.

Upper test entry point 102,000-103,000 long, stop loss 500, defense 100,500, defense 1,000, target above 104,500.

There is a delay in sending the article, and the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, stop-loss and take-profit measures must be in place to ensure safety.