June 24 Crypto Circle Mr. Coin: Bitcoin (BTC) Market Analysis Reference

Yesterday, Bitcoin rebounded but faced resistance, with prices under pressure near the 102,600 level. In the evening, prices experienced a strong pullback, and intraday trading saw back-and-forth action between bulls and bears. Fortunately, the previous low was not broken, allowing the downtrend to continue. Due to the lack of a breakthrough above key positions, the intraday trend has been consolidating in a wide range at lower levels, but the upward momentum is not strong. Moving forward, caution is advised as the market could break down again.

From the daily chart perspective, there have been four consecutive bearish candles, indicating strong bearish sentiment, and a long upper and lower shadow appeared yesterday, showing that selling pressure above is significant. Currently, as key support has not been broken, both bulls and bears are in a stalemate, with the market maintaining narrow fluctuations; however, the overall downtrend remains unchanged. Looking at the short-term hourly chart, the Bollinger Bands are narrowing, with the market operating near the middle band. The four-hour chart suggests a short-term rebound, but the momentum is not strong. Key resistance levels to watch are 103,500 and 104,800. If the subsequent rebound does not break through, there is a risk of a pullback under pressure. I hope all crypto friends can prepare in advance.

June 24 Bitcoin Short-term Reference:

Lower test entry point 103,000-104,500, stop loss at 106,500, target below 102,000,

Upper test entry point 99,500-98,500 long, stop loss at 500, defend at 97,000, target above 101,000,

The article is sent with a delay; the strategy suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, always manage take-profit and stop-loss effectively, securing profits.