6.8 Market Highlights Analysis

1️⃣ Market Status: On June 8, the oversold rebound reached a high of 64,000, now retreating to 63,000, with a daily candle closing as a solid bullish candle. The 63,500-64,000 zone is a strong resistance area.

2️⃣ Trend Judgment: Overall still dominated by a bearish trend. This rebound is only a technical correction driven by short covering, not a trend reversal. The rebound strength has nearly reached a temporary limit.

3️⃣ Future Movement: Mainly characterized by wide-range oscillations, with a high encounter resistance likely leading to a pullback to test the lows, targeting the 59,500-60,000 level; in the medium to long term, this support level will still be broken, with the head and shoulders top pattern indicating a continuation of the decline, and new lows will be created.

4️⃣ Trading Strategy:

◦ Previously, long positions around 60,000 are recommended to take profits;

◦ Within the range, buy low and sell high, consider shorting around 63,500, and look for long entries in the 59,500-60,000 zone. Do not open new positions in the middle of the oscillation.

5️⃣ Spot Market Advice: The current situation is not at the bottom, so it’s not suitable for dollar-cost averaging now. Risks from institutions and the mining sector have not been cleared. DCA can be considered in the fourth quarter of this year or after further price declines.