$BTC Crypto Circle Academician: Analysis of Bitcoin's Latest Market Trends on June 7th and Trading Recommendations

　　
　　Bitcoin's current price is 60,500. On the daily chart, Bitcoin has been continuously declining from the high of 126,208. The current price of 60,500 is near the 59080 level, which is the 100% Fibonacci extension level. The Bollinger Bands are widening downward, and the price has completely broken below the lower band, indicating a clear downward trend. The EMA moving averages are arranged in a full downward sequence, with the 15-day, 30-day, and 60-day moving averages acting as layers of resistance, and the price is well below all moving averages. The MACD indicator's DIF and DEA lines have a death cross below the zero line, with the green bars expanding continuously. The downward momentum has not yet exhausted, and a strong reversal signal is unlikely in the short term. Overall, the market is in a deep downtrend channel.
　　
　　The four-hour candlestick chart shows a unilateral decline starting from the high of 82,828. Currently, it is oscillating around 60,500, within the Fibonacci extension range of 0%-23.6%, between 59,080 and 64,684. The EMA moving averages are steeply arranged downward, with the 15-day, 30-day, and 60-day averages continuing to decline, and the rebound faces significant resistance. The Bollinger Bands are opening downward, with the price running close to the lower band. The MACD's DIF and DEA lines are below the zero line, showing a golden cross sign but with insufficient momentum. The green bars are shortening, indicating a slowdown in the decline, but no effective rebound has formed. In the short term, the market is in a weak oscillation phase after being oversold.
　　
　　Short-term trading ideas: Follow the major cycle trend, with small stop-losses, quick entries and exits.
　　
　　Buy near 59,000 to 58,500, with a stop-loss at 58,000, targeting 60,000 to 61,500.
　　
　　Sell near 63,000 to 63,500, with a stop-loss at 64,000, targeting 61,500 to 60,000.
　　
　　Every time there is a big drop, someone says "This time is different," but in hindsight, it's just normal market fluctuation. Don't be blinded by short-term rises and falls, and don't listen to those "doubling soon" nonsense. In the end, trading is not about who sees it right but who can survive longer. The current market situation, survival is more important than anything else. Don't push yourself into a dead end just to recover losses. Take it slow; the market will always give you opportunities. ‌#预测NBA总冠军赢20,000U