6.8 Sunday Afternoon Bitcoin Analysis - Consolidation

After experiencing a deep adjustment, the market has entered a phase of consolidation. Recently, the double bullish candles show that the bulls are attempting to counterattack, but whether the upper pressure level can be effectively broken through remains key. If the breakout fails, both bulls and bears will continue to fiercely contest around the daily upper shadow. Last night, the market rose to a high and then retreated, closing with a bearish candle, indicating that a one-sided trend has not yet formed. The four-hour level shows a gradual rise in the lows, but the upper resistance remains strong, and the price fluctuation has not achieved a substantial breakthrough. It is recommended to maintain a range trading strategy during the day, with a focus on short selling opportunities after rebounds.

Trade Bitcoin in the 1058-1060 range, targeting the 1045 range.

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