June 16 Morning Analysis

Bitcoin price surged to the upper Bollinger band at 67232, forming a double top and facing resistance, then moved into a stair-step downward trend. Currently, the body has broken below the middle Bollinger band at 66323, the key support/resistance level for bulls and bears, turning from support into strong resistance. The Bollinger bands are showing signs of narrowing and turning downward, indicating a break of the short-term upward channel, and the market has entered a weak downward pattern.

The candlestick chart continues to close with bearish candles, with no volume on short-term rebounds. Small recoveries are met with selling pressure, and buying momentum is weak, indicating a profit-taking phase after a rally. After the KDJ indicator formed a death cross at high levels, it has continued to show a bearish alignment. Although it has entered an oversold zone and slightly stabilized, no effective low-level golden cross has formed. In the short term, only minor technical correction space remains, and the overall downward momentum has not been fully released.

Operation suggestion: 66300-66900 $BTC range, target 64300-64900.