June 18 Midday Bitcoin Chart 🍜 Market Outlook

High points continue to decline, relying on resistance to make moves!
This morning's prediction was that Bitcoin would face resistance at 66,956 and pull back; throughout, the strategy was to rebound and go short without chasing longs; as expected, the market declined to test the low of 63,660, fully fulfilling the bearish trend, and the short-term profits from short positions were smoothly realized.
After a deep decline earlier in the day, the price has stabilized around 64,053 with slight fluctuations for recovery.
Four-hour candles show continuous bearish pressure, with high points steadily moving lower, moving averages remain in a bearish alignment, Bollinger Bands are opening downward, and the middle band acts as resistance; the MACD shows a death cross with green bars continuing, indicating that the short-term rebound is just a weak bounce after oversold conditions, and the larger downward structure remains unchanged.
Resistance levels: 64,600-65,100, strong resistance at 66,000-66,950
Support levels: 63,900-64,200, strong support at 63,660
Trading Suggestions:
1. Lightly short on rebounds between 64,200-64,500, with a stop loss above 64,900, targeting 63,900-63,660; if support at 63,660 breaks, look for a short at 63,300, and gradually reduce positions to lock in profits.
2. After a rebound and stabilization at 63,660-63,900, re-enter long positions with a stop loss below 63,250, targeting 64,400-64,700; if the price effectively breaks below 63,660, pause long entries and wait for support at 63,000 to stabilize before going long again. $BTC $ETH