6.8 Afternoon Bitcoin Market Analysis

In the morning, the price faced resistance around 63,800 and quickly retraced, although it stopped near 62,700 and showed a rebound, but did not stabilize around 63,500. During midday, the short-term momentum was slightly weak, returning again to the lower support area. After the early morning pullback above 1,700, the rebound was relatively weak, currently stopping briefly at 1,643, and is now making a slight rebound. The secret to maintaining a good mindset is only one: keep your position size light. When your position is not heavy, a sharp decline is discounted; when your position is heavy, the rebound is just a fleeting glimpse of hope.

Currently, the retracement of the price is testing the middle band on the 1-hour chart. In the short term, this support zone is effective, which is between 62,500 and 62,000. It is important to note that the momentum of the short-term head is weakening, the MACD shows signs of forming a death cross at a high level, and the current KDJ situation is quite awkward. However, if the price can hold above 63,000 and break through 63,500 with volume, there is still room for upward movement. After stabilizing around 63,000, a light position can be taken to test the upside towards 64,000. On the other hand, the same applies to the 1,700 level for the "concubine," with a focus on the breakout of that level. $BTC #比特币回升5%