6.11 Morning Bitcoin Market Analysis

On Wednesday night, Bitcoin experienced a volume-driven rebound, and Doudan just finished making a profit, but the subsequent correction was weak, mainly because I didn't expect the main coin to have a second volume surge and break through again. Compared to Doudan, the highest closing price for the main coin was 62,840, and then early this morning, it retraced back to around 61,000. The altcoin was stuck at 1,667 without a smooth breakthrough of the resistance zone of 1,660-1,670 mentioned on Wednesday, but the retracement this morning was as expected, reaching near 1,600, so the situation is relatively better. Don't focus too much on wins or losses for now; long-term stability is the key.

The 4-hour chart of the main coin shows a solid bullish candle body, but the trading volume is far below the MA(5) and MA(10) averages, indicating a volume-contraction rally that pushed the price up, but the follow-through traders haven't caught up, which is a hidden risk. The MACD has formed a golden cross below the waterline, and Doudan's momentum is still being released. The KDJ indicator still has room before reaching overbought, suggesting short-term potential for further upward movement, but volume increase is needed. The first resistance above is at 62,500, which is also a key support level. If Bitcoin can break through again with volume, it may challenge 63,000. Conversely, if it consolidates near the previous high with low volume, it could easily rise and fall back, retracing to around 61,000. Although the rebound isn't over yet, the volume remains a major issue. Currently, the trend leans toward a oscillatory rebound, but the height depends on volume. It is recommended to wait for a slight retracement to around 61,500 before confirming whether Doudan can follow up. #美国5月CPI创三年新高 $BTC