6.10 Morning Bitcoin Analysis | Luo Yisi's Approach

Do not bottom fish, rebounds are still shorting opportunities
1. What happened from last night to today
Bitcoin continued to weaken overnight, directly breaking below the key support at 62,000, with a low touching around 60,750, currently fluctuating around 61,700. After breaking support, the bulls are completely lost, selling pressure continues, and there is still room for further decline in the short term.
2. What is the current situation
The daily chart remains under continuous weakness, with obvious moving average resistance, and no signs of a bottoming out. Indicators are oversold and remain dull, the weak trend shows no bottom or reversal, and the overall market is dominated by bears, making bottom fishing extremely risky.
3. How to operate
Follow the trend, mainly shorting, do not guess bottoms or bottom fish:
Entry points: 62,000 - 62,300, staggered entries
Stop loss: 62,800
Take profit: 61,200, 60,500
All bulls should stay on the sidelines, waiting for a bottom stabilization signal before considering positioning.
Summary: Key support broken, the downside space is fully open, all rebounds are opportunities for shorting, following the trend is king, and do not attempt to bottom fish decisively. $BTC $ETH $HYPE