6.25 Wednesday Evening Analysis
The trend of Bitcoin has been somewhat unexpected, rising without volume and breaking above the 107,000 point level. This gives a trend of potential upward breakout.
From the 1-hour Bitcoin candlestick, it can be seen that the price has been running along the upper Bollinger Band, forming a trend of oscillating upward movement between the upper and middle bands. Although there is no volume, the bulls are still relatively strong.
The trading strategy for the evening remains bearish, but the key point to watch is whether it can break the support of the middle Bollinger Band. Today, it has not broken the support of the middle band, and the strength of the pullback is also quite limited. Watch for the support at 106,200; if it breaks, look further down.
Evening trading suggestion
Short between 107,200 and 107,700, targeting 105,000. If it breaks below, look further down; if it does not break, consider going long.
