6.1 Monday BTC Morning Thoughts

This morning, Bitcoin is trading at $73,700‑$73,900. After days of low-range fluctuations, the bearish selling pressure has been fully absorbed, and signs of a bottoming are evident, firmly betting on a oversold rebound.

On the technical side, the 4-hour timeframe shows the price repeatedly testing the support at $72,900‑$73,000 without breaking below, with buying interest continuously appearing; the lower band of the Bollinger Bands is narrowing and flattening, the MACD bearish green bars are gradually shrinking, and the RSI has turned upward from the oversold zone, indicating short-term bullish momentum is gradually building. The previous decline was mainly caused by geopolitical tensions between the US and Iran, which is a short-term negative disturbance, not a trend reversal, and the medium- to long-term bullish structure remains intact.

Above, the short-term resistance is at $74,400‑$74,800. Once volume increases and it stabilizes above this level, the rebound space will be fully opened, with further targets at $75,500‑$76,000. Currently, market panic has eased, and bottom-fishing funds are gradually entering, suggesting the market could soon see a recovery and rally.

In terms of operation, consider buying on dips at the support of $72,900‑$73,000, with a stop-loss below $72,600, and target $74,000‑$74,500. Be patient and wait for the oversold rebound $BTC to play out.