June 17 Bitcoin Market Summary

From the 1-hour timeframe, it is clearly visible that Bitcoin's K-line fluctuated around the 66,200-65,300 range in the morning. In the afternoon, Bitcoin's price first surged with increased volume, breaking below our short-term support level of 65,000, which we watched during the day, until the evening when it briefly stabilized at 64,525. Subsequently, U.S. stocks opened higher, Bitcoin saw a slight increase in volume, and the price was pulled back near 65,000. The surge in volume on the upside was more concentrated in the evening, finally stopping the decline at 17:40. Regardless of what trading strategy everyone is using, it’s important to maintain a mindset of not being overly excited by gains or overly悲 by losses, and to approach all market movements with a calm attitude.

Although the upward momentum has not yet been fully released in the short term, a clear shrinking trend has already appeared, and the previous few candles all closed with long lower shadows, indicating that there is still buying support around 64,500 below. Even if the current rebound strength is not strong, there is still hope to break through the resistance level, just as mentioned in the evening—stabilizing above 65,000 could allow for a light position to buy in, aiming for a breakout above 66,000. It would be even better if the price can hold steady near the middle band of the Bollinger Bands. Additionally, everyone should note that Thursday at 2 a.m. is the Federal Reserve decision time, so regardless of whether a big move occurs, it’s important to tighten defensive measures now. Light positions can still be used to fight again. Wishing everyone a good harvest! #TradFiCFD黄金大师赛