6.6 Weekend Bitcoin Market Analysis

The price broke below 60,000 in the early morning, hitting a new low of 59,080 this year, then rebounded from the bottom, but the upward space was limited. In the overall bearish atmosphere, it failed to break through 62,000. Meanwhile, in the morning, the market was affected by the US-Iran conflict, causing a pullback of over 2k points. The overall pullback was quite large; before Bitcoin broke below 60,000, it had already broken below 1,600. After Bitcoin broke the year's low of 59,800, it fell simultaneously, also hitting a new low of 1,503 this year. Thus, our rebound and correction gains were quite fruitful, which is the result of following the trend. Stop-losses are never about giving up but about leaving an entry ticket for the future. Those who stubbornly hold on often end up becoming stepping stones for others.

The daily chart shows Bitcoin has entered a six-session consecutive decline trend. In the 4-hour timeframe, Bitcoin is still within a downtrend channel, currently in a weak rebound after a sharp decline. Although the MACD has formed a golden cross below the zero line, the absolute values of the fast and slow lines are still very large, indicating a weak bullish crossover below the waterline. Given the current bearish situation, the rebound strength is questionable. The KDJ indicator shows a low-level golden cross diverging upward, indicating a short-term technical correction is needed. The bearish trend has not reversed yet, but it has entered a low-level correction phase. In the short term, it is likely to oscillate weakly between 60,800 and 61,800. The market is expected to consolidate in the 1,550-1,600 range. Over the weekend, focus on adjustments; if there is no clear trend, consider short-term trades and get a feel for the rhythm #美众议院叫停对伊军事行动 in advance.