【$btc】2025.6.23

Based on the recent on-chain data distribution, we now have a rough idea of the strong support area below, which is around $92900~$98500. However, does this rally really just end at $98200? Not necessarily. A rebound is just a rebound; it will not be a reversal. Since it is a rebound, there is a possibility of finding a new bottom. Therefore, in my view, $98200 is unlikely to be a temporary low.

Where will the temporary low be? I don't know. I only know that the next effective support area will likely be around 【$95500-$96500】. This is also the position where I think the price will at least reach afterwards. Will it reach this week? It's possible. But this depends on the situation. If the price breaks through and stabilizes above $103000, it likely won't go down this week. If it encounters resistance at $103000 and effectively breaks down below $100700, then we will see a second bottom test. If the bottom test fails, we will continue to look for a bottom around 【$95500-$96500】.

Therefore, the key resistance above is $103000, and the key support below is $100700. As for today, I personally believe that the next couple of days will mainly focus on rebounds. You can short high and long low.