In-Depth Analysis of BTC Market Trends: The Decline Continues, and the Rebound is Only a Temporary Performance
The cryptocurrency market is ever-changing, and the price trend of BTC has always been the focus of investors. From the current market dynamics, the downward trend of BTC has not yet come to an end, and the current price rebound is merely a temporary adjustment in the declining market.
Looking back at recent precise predictions, on June 3rd, I clearly stated that BTC would continue its downward trend. On that day, the BTC price peaked at $106,500, and I predicted it would fall to the range of $100,600 - $101,500. The market trend confirmed this judgment, with the price hitting a low of $100,300, only 300 dollars away from the predicted lowest point, resulting in a very small error.
Extending the timeline to last month, I had proactively mentioned in an earlier post that BTC would face a significant decline in May, expecting a drop of at least 10,000 points. Facts speak louder than words; from May 23rd to now, the BTC price has dropped by about 12,000 points, once again validating the accuracy of the prediction. Whether it was the judgment on the overall decline last month or the specific point prediction on June 3rd, both were highly consistent with the actual market trend.
From a technical analysis perspective, the current BTC price is rebounding near the lower Bollinger Band, which fully complies with technical rules. A rebound of several thousand points after touching the lower band is a normal technical correction, but this is merely a 'breather' in the downward trend and not a signal of trend reversal. Based on market trends and technical pattern analysis, the BTC price may further decline, with a target level to watch around $96,000.
It is especially important to emphasize that the above content is only a market trend prediction analysis and does not constitute any investment advice. Due to the severe volatility of the cryptocurrency market, there are significant time errors and directional uncertainties, and investors must remain rational, making cautious decisions based on their own risk tolerance. The views expressed in this article are for reference only.
