6.3 Bitcoin Evening Analysis

In terms of daily observations, Bitcoin continues to consolidate within a converging triangle pattern. The RSI indicator has formed a golden cross near the 50 midline, indicating a subtle shift in the balance of bullish and bearish forces. Meanwhile, the green bars below the MACD zero line continue to shorten, suggesting a weakening of bearish momentum and potential buildup of bullish strength. The Bollinger Bands on the four-hour chart are in a contracting state, with prices steadily climbing along the upper band. Notably, the Fibonacci retracement levels show that the price has successfully stabilized at the key support level of 0.382 at 104800. If it can effectively break through the resistance level of 0.618 at 106300, it will confirm the initiation of a new upward trend.

Trading Suggestions:

Bitcoin: Go long near 104500-104800, target around 106800-107500

Ethereum synchronized operations