6.21 Morning Bitcoin Market Analysis
The cycle of rises and falls is the norm; there is no need to panic due to a momentary misjudgment. Bitcoin opened high last night and immediately performed a high-altitude dive, sharply dropping as soon as it touched the 106524 point, with only a few scattered rebounds unable to stop the downward momentum, plummeting over 3000 points in one go. This market is like opening a blind box; you never know if it will be a surprise or a shock. However, that being said, rises and falls are the natural state of the market, and maintaining a stable mindset is the key!
From the market perspective, although the price has been continuously falling, the key support has not been breached. The bottom of the Bollinger Bands has not yet been reached, indicating limited downward space. From the four-hour chart, the three consecutive bearish candles seem fierce, but the selling pressure has not broken through the key support level, highlighting the resilience of the bulls. Looking at the hourly candlestick chart, the price has been closing with gains consecutively, forming a classic rounded bottom shape at the bottom, which is a clear signal of a rebound. In summary, a short-term pullback may be a good entry opportunity, and it is recommended to maintain a bullish outlook in operations.
Bitcoin 102800-103000 bullish, target 15000
