$BTC Rational Analysis
Coming down from the high of 110000, the fluctuations are huge. It has temporarily not broken through the major trend line and is at the upper edge of a descending channel. The current position leans towards waiting for a directional choice. A sudden upward breakout would likely attempt to breach 11000, while a downward move would continue to operate within the descending channel.
From the mainstream market perspective, gold is falling, US stocks are challenging new highs, and the cryptocurrency sector mainly acts as a risk asset linked to US stocks. Currently, the negative speculation has almost landed, and the focus going forward will mainly be on the interest rate cut expectations in July and the sustainability of economic preferences.
Resistance above: 108200
Support below: 106400 105000
The current position still has no plans to go long. Subjectively, this round of market movement is due to the liquidation of long positions from the downward pressure, combined with retail investors missing out, causing a rebound. Overall market sentiment is not high; the overall stance is to favor short positions unless it stabilizes above 108000 before considering the next move $ETH
