$BTC Crypto Circle Academician: 6.11 Bitcoin Double Cycle Breakdown! Clear daily downtrend, 4-hour oscillation support and resistance levels! Latest market analysis and trading suggestions

Bitcoin current price is 61,700. Reviewing the current market, it’s easy to see that most losses come from going against the trend. Clearly, the moving averages and MACD all signal a downward trend, yet many still try to buy against it; when a rebound just begins, panic selling occurs at the lowest point. Humans naturally dislike losses, so they’re reluctant to cut losses in time, but the market won’t accommodate anyone’s emotions. In the crypto world, it’s never about who makes the most in the short term, but about who can survive wave after wave of bull and bear markets steadily. Controlling your hands and managing risk well are the keys to long-term survival.

The daily K-line is in a deep downtrend overall, with all moving averages arranged downward. EMA15, 30, 60, 90, 120 are layered resistance levels. The MACD indicator’s DIF is significantly below DEA, with green bars continuously expanding, indicating that downward momentum has not fully exhausted. The Bollinger Bands are opening downward, with the price staying close above the lower band at 57,173. The middle band at 69,467 is the mid-term support/resistance dividing line. There are no clear reversal signals on the daily chart; the main trend remains downward, and rebounds are seen only as corrections within the downtrend.

The 4-hour K-line shows a short-term slight recovery and consolidation around the low of 59,080. Short-term EMA15 and EMA30 are pressing above the price, while the mid-term moving averages 60, 90, and 120 are all trending downward, maintaining the overall downward pattern. Fibonacci retracement levels at 0.236 (64,684) and 0.382 (68,152) are locking in the rebound space. The 4-hour MACD shows a small golden cross, with decreasing red bars, indicating weak upward momentum. The Bollinger Bands are narrowing, with the upper band at 64,134 and the lower at 60,755, and the price is below the middle band at 62,444. In the short term, after oversold conditions, the market is in a weak sideways phase with limited rebound potential, unable to change the larger cycle downtrend.

Short-term trading ideas: follow the major cycle trend, with quick stops and quick entries/exits.

Support levels: 61,000 to 60,500, stop-loss at 60,000, target 61,500 to 62,100.

Resistance levels: 62,100 to 62,600, stop-loss at 63,100, target 61,500 to 60,500.

Specific operations should be based on real-time market data. For more information, contact the author. The article may have delays; use at your own risk.