Night Market Analysis on July 1

Bitcoin showed a rapid decline followed by a rebound in a V-shaped pattern, with the price dipping to a low of 106,600 before recovering.

From the hourly Bollinger Bands perspective, the bands are clearly expanding, indicating a significant increase in short-term market volatility. After the price quickly broke through the lower support, it began to move towards the middle band.

Looking at the MACD indicator, the dual lines formed a death cross and effectively crossed below the zero line, with the green momentum bars continuously increasing, indicating that the current bearish strength is dominant. However, the V-shaped reversal pattern also reflects intense competition between bulls and bears near the key support level.

Bitcoin trading strategy: rebound around 107850-108250🈳, looking down towards 106650

Altcoin trading strategy: rebound around 2485-2510🈳, looking down towards 2455