6.12 Bitcoin: Don't be fooled by this bullish candlestick, the big bears haven't left yet



$BTC
Brothers, today finally saw some red! Bitcoin rebounded from yesterday's low of 61,000 all the way up to 63,400-63,600, a 2,000-point increase in 24 hours. Many people see the rise and shout "bottomed out" or "reversal," rushing to buy the dip. I'll pour some cold water first: this is just an oversold rebound, not a reversal. The overall trend is still downward, don’t be fooled by this bullish candlestick. Buying now is just giving institutions a head start to dump.

Entry: 638-642 range, with a target of 647, watch 628-615

The Federal Reserve's June meeting is next week, with a 98.2% chance of holding interest rates steady, and no chance of a rate cut this year. The probability of a rate hike by the end of the year has already exceeded 54%.

Spot ETF has been net outflow for 14 consecutive days, totaling over $5.5 billion, institutions are still dumping and fleeing, showing no signs of turning back.

Funds are still flowing into USD and gold. Bitcoin is now just a high-risk speculative asset nobody cares about. #美国5月CPI创三年新高 #美伊冲突升级
BTC0.18%
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