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June 1 $BTC Market: A new week, a new month, let's see which areas to watch for Bitcoin today.
Currently, both the weekly and daily charts for Bitcoin are not performing well. If a downward move is to occur, it only needs one more step: breaking below the MA120 moving average on the daily chart and failing to recover, then it will continue downward.
On the current smaller 1-hour timeframe, pay attention to the 73,300 level. If the closing price cannot reclaim 73,300 later, then look for a rebound near 71,800. If there is no response at 71,800, it could be a waterfall drop. The next support level is around 69,000.
Additionally, on the hourly chart, watch when the price break line can be broken; if it does, the price could reach 754-757. At this key resistance level, try to make a retracement.
On the left side, for long and short operations, one is at 718, and the other is at 754-757. The rest depends on closing and breakout signals to decide on right-side trades. Focus more on these levels for trading. $BTC