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Song Xiqing: Will the rebound after 6.11 in the afternoon break through? Don't get excited, it's still a trap
Good afternoon, take a look at the market.
Bitcoin just reached around 62.7k, peaking at 62.9k, just one step away from 63k. Is someone starting to get excited? Don't rush, let me tell you.
This rebound started from 60.7k, moving up two thousand dollars, but look at the 4-hour chart, the area above 63k-64k is heavily resisted. After this wave of rally on the hourly chart, the KDJ indicator has become dull, and the momentum clearly lacks strength. This kind of rebound in a trap trend is a typical false rally.
My view remains unchanged: above 63k is the territory of the bears. The ironclad resistance zone of 62.5k-64k offers more opportunities the higher it goes. There will still be tests below 60k, with the target at 55k remaining $BTC unchanged.