Wednesday, June 3rd BTC Evening Outlook

As of the evening of June 3rd, Bitcoin fluctuated at a low of $66,000-$67,000, down about 6% in 24 hours, touching a new low of $65,500. The market is extremely fearful, with approximately $1.6 billion in liquidations across the network, and nearly 90% of positions are longs. Technical analysis shows an oversold rebound demand, but it is temporarily considered a continuation of the downtrend. Resistance is at $68,500-$69,000, support at $65,500-$65,700, and a break below could see $62,300-$62,500. In terms of trading, if the rebound faces resistance, consider shorting with a small position; conservative traders should continue to observe.
Trading suggestion: Watch for a rebound at $67,300-$67,500, with a target of $66,500; if broken, look for $66,000.