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6.17 Tuesday Morning Bitcoin Trading Strategy

Based on the current market analysis, from the four-hour level chart, after a round of price increase, the bears strongly pushed down with a large bearish candlestick, falling below the upper Bollinger band. The KDJ indicator shows all three lines turning downward, and the RSI indicator also shows a downward trend, indicating that in the short term, the bullish momentum has formed a death cross pattern at this level, and continues to extend downward, with bearish momentum continuously diverging, revealing an initial short-term downtrend.

After experiencing a significant increase, the bears sharply declined with a solid bearish candlestick, breaking through the upper Bollinger band support, forming a clear top reversal signal. This large bearish candlestick not only engulfed part of the previous increase but was also accompanied by a significant increase in trading volume, indicating that the bears are currently in a state of accumulation. Looking at the one-hour chart, the market continues its downward rhythm, forming two consecutive bearish candlesticks, testing the support near the middle band. If it breaks through, there could be further downward extension. In the morning trading, continue to maintain a bearish outlook.

Sell Bitcoin near 107000, target 105000