6.17 Bitcoin Chart Analysis

From the hourly and weekly perspectives, Bitcoin's current price continues to face downward pressure, now around 657.
The market has already broken below the middle band of the Bollinger Bands at 660, with the middle band shifting from support to short-term strong resistance, with the upper resistance zone locked between 662-665.
The RSI indicator is at 43.5, below the 50 mark, indicating that the bullish momentum is weak and the bears are dominating the market.

Since the peak at 672, the overall high points have been gradually decreasing. The slight rebound in the short term is merely a correction within the downtrend, representing a trap for bullish traders, so do not rashly buy the dip for long positions.

Jingyue believes that when the price rebounds to around 662, it is a good entry point to short, with a target down to 652. If the support at 652 is broken, the target can be lowered to 640.
The current bearish trend has been established, so follow the trend and take control of the market actively. #Gate现货交易量逆势增长增幅全球第一 $ETH $BTC