6.17 Bitcoin Analysis

From the market perspective, Bitcoin is currently priced at 1792, under pressure below the middle band of the Bollinger Bands. The middle band is gradually shifting from support to resistance. The key resistance level is around 1810, and the RSI indicator is now at 42, below the 50 strength/weakness line, indicating that the bulls' buying momentum is weak. Even a slight rebound is merely a technical correction during a downtrend. Since the high point of 1848 has been continuously declining, the short-term oscillation is just a shakeout by the main force, and the upward momentum is difficult to sustain.

In the current macro market, overall risk aversion sentiment has not fully dissipated. The mainstream cryptocurrencies' upward momentum remains limited, making it hard to form a sustained rally. The overall environment is more inclined toward sideways or weak movements.

Jingyue's direction has already been locked in. When the price rebounds to around 1810, enter the market to go long. The primary target for the decline is 1774. Follow the overall trend and ignore short-term chaotic fluctuations. #加密市场延续反弹 $ETH