6.11 Jiang Yuheng | Bitcoin Morning Thoughts

The daily chart bearish trend has not reversed at all, with the entire cycle's moving averages pressing the price downward, and the bulls haven't even managed a decent resistance.

Last night, it dipped near 60,800 and then had a corrective rebound, but once it reached the 62,800 resistance level, trading volume started to decrease, and it couldn't stabilize after two attempts—typical weak rebound.

60,000 is the last support for the bears; as long as it doesn't hold, the next round of decline will open the floodgates. The current market situation is dominated by the bears!

It's now a process of bottoming and repairing after a sharp drop, repeatedly testing the support level. Every rebound above is an opportunity for short sellers. If it can't stabilize above 63,000, it's likely to return to oscillation and downward movement—don't chase the rally blindly!

For rebounds around 62,500-63,000, take light positions to short, targeting 61,000 and 60,000.

In a weak market, don't blindly bottom fish—stick to the principle: short on rebounds! Control your position size, and maximize risk management!