June 7 Market Analysis


Support and Resistance Levels
● Resistance: 62,000 (SAR indicator suppression), 64,500 (previous decline relay platform)
● Support: 60k (round number), 59,078 (recent low / previous low)

Suitable Long Entry Points
Currently in a rebound after a downtrend, going long is a "left-side trading" (betting on a rebound) with higher risk. It is recommended to focus on the following two levels:
1. Aggressive Rebound Play (Short-term)
● Entry Point: Around 60,000 - 60,500.
● Logic: If the price retraces to the 60,000 round number without breaking below, and the RSI indicator does not continue to diverge downward, you can try a small position to bet on a short-term rebound.
● Stop Loss: Exit decisively if it falls below 59,000.
2. Conservative Right-Side Long (Confirm Reversal)
● Entry Point: Wait for the price to break through and stabilize above 62,500.
● Logic: Currently, the SAR indicator (red dots in the chart) is still above the K-line, roughly at 61,990, indicating that the bearish trend has not ended. Only when the price strongly breaks through 62,500 does it mean the short-term downtrend is reversed. Entering long at that point $BTC is safer.
BTC-2.62%
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