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The reason for this rebound is because of Trump's Twitter tirade early in the morning, which caused Bitcoin's price to quickly pulse and rebound a little! It’s quite frustrating and disgusting! Now Bitcoin's price is being manipulated by Wall Street institutions and Trump's tweets. I really miss the simple and pure days of trading Bitcoin a few years ago. But I think the true face of this rebound: Trump's Twitter tirade, is not the strength of the bulls. On June 11, a tweet: canceling the scheduled airstrike on Iran, claiming that the US and Iran have reached a "major agreement" to resolve the conflict, possibly to be signed in Europe this weekend. Once the news came out, Bitcoin surged from 62,500 to 63,800. But on the other side of the story: Iranian official media explicitly stated that Iran has not approved any preliminary understanding memorandum with the US. The Iranian Foreign Ministry reiterated that it will not tolerate concessions on red line issues—asset unfreezing, Israeli ceasefire—none of these conditions have been met. Is Trump lying, or is Iran denying? That’s not important. What matters is: the root of this rebound is "false expectations." Once expectations are disproved, the premium will be retracted. From the chart, the trading volume during the rebound did not effectively increase. After reaching 63,800, signs of stagnation appeared, driven by short covering, a technical rebound, not the main force of the bulls entering. The daily chart’s volume structure is clear: the panic sell-off peak on June 5, with huge daily trading volume—massive volume corresponding to the price lows, indicating panic selling concentrated release. During the rebound, trading volume has significantly shrunk. The daily bullish candle body is small, and the volume is far below the level during the decline. Declining with increased volume, rebounding with decreased volume—buying power is far weaker than selling power. This is a typical feature of a bear market.
Short-term reference: short at 63,700, target 62,700, stop loss 1,000 points $BTC