6.16 Morning Bitcoin Market Analysis

On Monday, the price rebounded above 65,000 and has not fallen below the 65,000 support since, with the white plate trend basically consolidating in a high-level oscillation, which already reflected the strong attitude of the Dodo head during the day. Starting from the evening, although the volume of the Dodo head increased slowly, it also successfully broke through 66,000 and stabilized after the US stock market opened, thereby breaking the 67,000 level again and creating a recent high of 67,255. The Dodo head's volume release was sufficient, making the breakout more robust, stronger than expected, continuously rising from around 1710 to 1848. All the Dodo positions we held on Monday were closed with profits, and the last Dodo position was precisely closed near the new high. The early morning market was simply a rally followed by a correction, and I also reminded brothers at the time to watch out for pullbacks. With rationality as the measure and patience as the boat, steady progress leads to distant goals.

After yesterday's close, the daily chart successfully returned to near the midline, now it depends on whether it can hold this position today. Currently, the 66,000 level provides temporary support, and on the 4-hour level of the Bitcoin chart, the momentum of the Dodo head has not yet fully released but shows a decreasing trend. Plus, the KDJ is currently in a death cross at a high level. If the 66,000 level breaks down, it is very likely to return to around 65,000 to test support again. For the subsequent attempt of the Dodo head to rally higher and break through, stronger momentum is needed, along with volume support. The medium-term target for Bitcoin is still to see the 70,000 level, and for the Dodo head, it’s above 1950. In the short term, we should first watch for a pullback, with support at 1720 for the Dodo head. $BTC #TradFiCFD黄金大师赛 $ETH