6.11 Midday Bitcoin Market 🍜 — Perspectives from Shi Yuan

Bitcoin changes sharply at midday! The 62,600 node is the life-and-death line between bulls and bears—right at this step!
In the morning, Bitcoin fluctuated narrowly in the 61,000-62,000 range, which matches the expected consolidation-and-bottoming rhythm. The MACD shows an initial golden cross at a low level; bullish momentum is slowly recovering. There has been no extreme breakdown move, and for the short term the range-bound approach remains the primary focus.

Currently, the Bitcoin 4-hour chart shows stabilization around 62,600. The MACD has formed a golden cross (the red bars are continuing to expand). Short-term bearish momentum is exhausted, and the market has entered a corrective rebound phase. However, overhead pressure is still strong, and the overall structure remains one of consolidation with a bullish bias.

Support levels: first 61,500-61,800; second 60,800-61,000
Resistance levels: first 63,000-63,200; second 64,000-64,500
Trading Suggestions:
1. If the price pulls back to the 61,500-61,800 range and stabilizes, consider a small-position long. Targets: 62,800-63,200. Stop loss: below 61,200.
​
2. If the rebound meets resistance in the 63,000-63,200 range, consider a small-position short. Targets: 62,000-61,800. Stop loss: above 63,500. $BTC $ETH