June 2nd Bitcoin (BTC) Thoughts and Trading Suggestions:

Thoughts
As of June 2nd, Bitcoin is currently priced at 70,650, with the market continuously breaking below key support levels of 72,000 and 71,000. The daily chart shows a complete bearish structure, with funds steadily flowing out. Market panic is intensifying, and the downward momentum has not yet been fully exhausted. The rebound on the chart faces obvious resistance, and the short-term overall trend is weak. Rebounds are unlikely to sustain continuous upward movement. The current key psychological support is at 70,000; holding this level will result in narrow-range sideways consolidation at lower levels, while losing it will further open the downside space. Short-term resistance is concentrated in the 71,800-72,200 range. The core trading logic for the day is mainly bearish, avoiding blindly holding large positions to buy the dip and gamble on a reversal.

Trading Suggestions
Contracts: If a rebound reaches 71,800-72,200 and faces resistance with a stall in upward momentum, consider a light short position, with a stop-loss at 72,600. The initial target is 70,200-70,000, with a further extension to 68,000 if broken. If volume increases and it breaks below 70,000, follow the trend and add to short positions, with a stop-loss at 70,500. Only if the price stabilizes above 70,000 with a confirmed stop in decline can a very small long position be attempted in the short term, with a stop-loss at 69,600. If the price rises to 71,500, take profits immediately and exit. #Gate正式推出股票交易 $BTC $ETH