6.10 Morning Market Outlook

$BTC The trend of Bitcoin in the early hours today is basically consistent with my prediction during yesterday's live broadcast. Last night’s low-buying strategy was to tell everyone that Bitcoin would first retrace to around 61,000, then start to rebound and move upward. So now we can see that the lowest point in the early morning broke below 61,000, reaching 60,755, then began to rebound, but the upward space did not open up. After reaching around 62,253, it faced resistance and fell back. Our outlook this morning has already shifted to bearish because during the retracement, the bulls showed no resistance, and the rebound strength was weak. Therefore, the current strategy is still to short on rebounds.

Both the 1-hour and 4-hour charts show Bollinger Bands diverging downward simultaneously. In the early hours, the market was under pressure below the previous bullish defense line at 62,300. This former support level has already completed a top-bottom reversal, forming a resonance pressure zone that the rebound cannot surpass. The overall bearish trend structure remains intact and has not been broken. The corrective rebound after the bottoming out is weak throughout; each attempt to test the resistance zone results in heavy selling pressure. The rebound lacks strong momentum to volume up, and it is only a minor correction after a sharp decline, not a trend reversal signal. The long-term bearish pattern remains unchanged. If the rebound briefly pierces the resistance track but closes back below, it is a false breakout and trap, maintaining a high-short strategy, which is a better shorting opportunity.

Wednesday morning Bitcoin trading advice: Short around 61,800-62,300, target 60,500;
Ethereum trading advice: Short around 1,665-1,645, target 1,610.