Tuesday, 6.9 BTC Afternoon Outlook

Today, Bitcoin continued its oversold weak rebound and range-bound movement, trading between $62,700 and $63,300, with slight fluctuations in 24-hour price changes, calm trading volume, and strong risk-averse sentiment.
Technically, the market remains in a mid-term downtrend, with RSI severely oversold and in need of recovery. The bearish momentum has weakened, but the bullish rebound lacks sufficient energy. The core range for the day is locked between $62,000 and $64,200, with strong resistance at $64,000-$64,200, and key support at $61,000-$61,500 based on the 200-week moving average.
On the capital side, spot ETF has ended several days of net outflows and has seen a slight inflow, temporarily easing selling pressure. Due to non-farm payroll data, market expectations for rate cuts have been delayed, and with the US CPI data to be released tomorrow night, the overall market sentiment is cautious.
Trading suggestion: Watch for a rebound between 635-640, with a target of 620; if broken, look for 610.
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