6.5 Friday Morning Zhongling BTC/ETH Silk Road Continued decline, no change in bearish trend

In the blink of an eye, it's Friday again! The overnight market continued its weak downward trend, with Bitcoin's current price dropping to around $63,500. This month's prices have been steadily declining, showing a typical one-sided downtrend. Market sentiment remains cautious, and bullish rebound momentum continues to weaken.

From the current market situation, after Bitcoin dropped to 61,300 yesterday, the price fluctuations have continued to narrow, forming a converging triangle pattern. The four-hour indicator shows oversold signals, with the fast and slow lines turning at low levels, showing a trend toward a golden cross. The selling pressure continues to weaken, and the market has stopped falling and rebounded, but the rebound momentum is weak, still within the scope of normal technical correction, making it difficult to break out of a one-sided upward trend. The three lines of the hourly Bollinger Bands are narrowing, with the market alternating between bullish and bearish consolidation, and the price moving within a range around the middle band. In the short term, bulls and bears are expected to compete within the 62,500-64,500 range. It is recommended to focus on shorting at high levels around this core zone.

Trading suggestions:
Bitcoin 64,000-64,500 range for shorting, target 61,000-61,500 within the day
Altcoin 1,790-1,810 range for shorting, target 1,670 within the day
$BTC $ETH $SOL #ETH跌幅超5% #HYPE创历史新高