Crypto Circle Li Ying: 6.12 Bitcoin (BTC) Latest Market Analysis and Trading Suggestions

Family members, Bitcoin is currently at 62,700. The two-hour chart shows quite a story! It previously dropped from 78,000 all the way down to 59,130, and now it’s clearly building a bottom and rebounding. Short-term moving averages are turning upward, and the price has stabilized above a key level, like a sapling emerging new shoots after a harsh winter. If it can hold steady, the chances of pushing higher afterward are quite good.

We need to keep a close eye on the rhythm to find entry opportunities. Among technical indicators, the EMA short-term 7 and 30-day moving averages have formed a golden cross, with the price staying above the moving averages. The mid-term 120-day moving average is still under pressure but its slope is slowing down, indicating weakening downward momentum. In the MACD indicator, the DIF has crossed above DEA to form a golden cross, with the red bars continuing to grow, gradually strengthening the bulls. The Bollinger Bands are narrowing and then opening upward, with the price near the upper band, supported solidly at the lower band. Overall, the technical picture leans toward bullish resonance.

Short-term reference:

Buy at 62,500-62,000, exit if it falls below 61,500, aiming for above 63,000 and targeting 63,500.

Sell at 64,000-64,500, exit if it drops below 65,000, aiming for below 63,000 and targeting 62,500.

The above content is exclusively original by Li Ying. Please indicate the source when reprinting! Due to delays in article review and market volatility, the above suggestions are for reference only; trade at your own risk. We hope Li Ying’s insights will be helpful to you!

The content is real-time and for reference only. $BTC Trade cautiously.