6.6 Friday Morning Bitcoin Analysis

From the daily chart perspective, the lower retracement points are gradually rising, showing support stabilization, but the rebound highs have consistently failed to break through effectively, forming a convergence. The approach does not recommend aggressively chasing shorts, but rather prefers to buy on dips. The four-hour chart shows a clear bottoming rebound, halting the decline while making a rebound. Currently, the overall trend has entered a slow upward oscillation rhythm. After a continuous strong downward move, the low-level rebound and recovery is also a normal correction method. However, the current rebound strength is also gradually digesting; the trend is still predominantly bearish, with the bullish rebound being a sub-level movement. The upward rebound is gradually slowing down, clearly facing resistance and pressure. Today, we will continue to follow the trend, still focusing on bearish positions.

Trading range for Bitcoin is 1018-1020, with a target of the 1005 range

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