6.24 Bitcoin Morning Analysis
Yesterday, the overall trend of Bitcoin maintained a range-bound oscillation until the early morning when the price dipped to around 99600 and stabilized, followed by a strong rebound. It then opened an upward channel, surging all the way to the 106000 level. Currently, the price is consolidating in a narrow range around 105100.
From the 4-hour candlestick chart, after dipping to the bottom, the market has recorded two consecutive large bullish candlesticks, quickly recovering the previous losses and forming a standard V-shaped reversal structure in a short time frame. The short-term rebound momentum is strong; however, it is important to note that the current price is approaching the upper Bollinger Band resistance level. The upward momentum has begun to weaken, facing some pullback pressure. Therefore, the intraday trading strategy should mainly focus on short positions, paying attention to the reaction at the resistance level above.
Trading Suggestions:
Bitcoin: Range around 105500-106000, target 103000 range
Altcoin: Range around 2430-2450, target 2300 range
