Friday, June 12th BTC Morning Outlook

As of now, Bitcoin is stuck around $63,000.
On the macro level, funds are still exiting the market. The Bitcoin spot ETF has experienced net outflows for 18 consecutive trading days, coupled with the higher-than-expected May PPI data, leading to cautious market sentiment.
Technically, the bears are in control. The price has broken below all major moving averages, with $65,000 forming a strong resistance. However, the RSI indicator has fallen to 29 in the oversold zone, indicating a short-term rebound demand. Before a trend reversal, it is recommended to adopt a rebound high-short strategy: if the price rebounds to the $63,500–$63,800 range, look for shorting opportunities.
Overall, the market is at a critical window for direction choice, with the $60,000 level being the most important observation point in the near term.
Trading suggestion: Watch for a rebound around 63800, with a target of 61500; if broken, $BTC look for 60500.