Morning Thoughts on June 27
The cryptocurrency market is currently showing a differentiated and pressured trend. Bitcoin quickly retreated after reaching $107,928 during the day, forming a doji candlestick with a long upper shadow, indicating that there is significant selling pressure at this price level, and the price failed to effectively break through the key resistance level of $107,500. From the four-hour technical chart perspective, although the MACD indicator maintains a golden cross pattern, the red momentum bars are continuously shrinking, reflecting that the bullish driving force is gradually weakening, maintaining a weak high-level oscillation pattern in the short term.
The hourly technical indicators are releasing multiple bearish signals. The MACD indicator has formed a secondary death cross below the zero axis, while the green momentum bars are accelerating in size, indicating that the downward momentum continues to strengthen. Although the price triggered a technical rebound after quickly dropping to the lower Bollinger Band, the KDJ indicator's three lines formed a death cross at a high level and are diverging downwards, while the MACD values remain in the negative region, suggesting that the rebound momentum is limited and the overall trend is still dominated by bearish trends, requiring caution against further pullback risks.
Large Coin: Short around 107700-107300, targeting 105600
Medium Coin: Short around 2450-2430, targeting 2360
