6.12 Morning Bitcoin Market Analysis

On Thursday, the bullish momentum was fully displayed, with the price rising from around 61,000 to above 62,000 and not falling below. Although in the evening, the bulls repeatedly tested the support zone between 62,500 and 62,000, all attempts ended in failure. After the US stock market opened, the market declined again, dropping to around 62,400. However, in the early morning, positive signals from the US and Iran were released, easing market panic, and the bulls further increased volume, pushing the price up to 63,915. The altcoins also followed the rebound, rising to 1,693, approaching the 1,700 level. By this point, the main rebound targets for Thursday had basically been reached. As for the current US and Iran situation, as long as the conflict does not escalate, minor skirmishes will have less impact on the market.

In the early morning, the bullish volume was concentrated and released, but it did not sustain the momentum to break through the 64,000 resistance level at that time, though it remained stable above 63,000. Currently, the upper band in the 4-hour chart of Bitcoin is still under pressure, with the three moving averages continuing to flatten, indicating that the short-term trend has not been dominated by either side. The bullish momentum is not fully exhausted yet; in the short term, it remains relatively strong. Staying above 63,000 gives an opportunity to break through 64,000 again today. The MACD has a golden cross that continues to expand upward, gradually pushing above the zero line. It is important to note that the KDJ indicator has entered the overbought zone, which may face a technical correction at any time. If the bullish volume does not support a strong push higher, the market is likely to maintain a high-level sideways trend. #美国5月CPI创三年新高 $BTC $ETH