From today's 6.20 candlestick chart, Bitcoin is currently stuck at the 104700 line, with an overall market performance showing a weak oscillation structure. Key technical signals are as follows:
Technical analysis logic:
Moving average system consolidation + BOLL compression
Multiple period moving averages (MA5/10/20) are highly overlapping, and the BOLL channel continues to narrow, indicating the market is entering a consolidation phase, suggesting a directional breakout is approaching.
The current price is near the middle track (104475), but it has not yet recovered above the middle track, and the bearish sentiment has not completely reversed.
SAR parabolic with candlestick consolidation
The current SAR indicator is at 104004, slightly below the current price, providing preliminary support, but the bullish-bearish dividing line still needs further confirmation.
Trading volume is flat, with a lack of momentum.
Weak volume coordination indicates that the market has not yet gained enough momentum for a significant rebound, mostly involving short-term speculative capital.
The main downward trend has not yet reversed.
From the 4-hour chart, after the peak on June 17, there has been a continuous decline, and the MACD is still hovering at a low level, without signs of a golden cross.
Recommended trading strategy (based on the current 104700 price level):
Short-term bullish speculation prediction (oscillation repair logic favored).
Today's focus is on whether it can effectively stay above the 105000 line. If broken, it is expected to trigger a rebound repair within the day.
Operation range setting:
First support level: 105080
Second support level: 105350
Support level: 104280
