6.23 Morning Thoughts
From a technical analysis perspective, the current market shows a clear bearish dominant pattern. The daily level has been continuously closing in the red, with prices continuing to decline and breaking below previous lows, having reached the lower Bollinger Band, indicating that the overall trend has shifted from strong to weak, and the downtrend is likely to extend further. At the 4-hour level, the large bearish candle's body has established a short-term bearish trend, and even if a rebound occurs, it will face resistance and fall back at key pressure levels. The Bollinger Band is expanding downward in a waterfall manner, the MACD indicator's death cross continues to diverge, the bearish momentum bars are constantly increasing, and multiple technical indicators such as KDJ and RSI are all releasing bearish signals. In light of this, in actual operations, one should adhere to the principle of trading with the trend, seize the opportunity of price rebounds, and set up short positions at higher levels.
Bitcoin trading thoughts: Rebound around 101550-102350 🈳, looking down at 100000 and breaking down to 98500
From a technical analysis perspective, the current market shows a clear bearish dominant pattern. The daily level has been continuously closing in the red, with prices continuing to decline and breaking below previous lows, having reached the lower Bollinger Band, indicating that the overall trend has shifted from strong to weak, and the downtrend is likely to extend further. At the 4-hour level, the large bearish candle's body has established a short-term bearish trend, and even if a rebound occurs, it will face resistance and fall back at key pressure levels. The Bollinger Band is expanding downward in a waterfall manner, the MACD indicator's death cross continues to diverge, the bearish momentum bars are constantly increasing, and multiple technical indicators such as KDJ and RSI are all releasing bearish signals. In light of this, in actual operations, one should adhere to the principle of trading with the trend, seize the opportunity of price rebounds, and set up short positions at higher levels.
Bitcoin trading thoughts: Rebound around 101550-102350 🈳, looking down at 100000 and breaking down to 98500
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