6.19 Morning Bitcoin Market 🍜 Technical Analysis

Bitcoin hits a new low, short-term do not blindly buy the dip!
After Bitcoin surged to a high of 67,255 earlier, the 4-hour cycle continued to step down, with a full-day bearish dominance yesterday. The rebound lacked sustainability and was pressured to fall back, with a low of 62,232, as selling pressure was released in full. Yesterday's strategy was to confidently go short with the trend, relying on the rebound resistance to gradually establish short positions and capture the downward wave.
The 4-hour large cycle remains bearish, with no reversal yet. After a sharp decline with consecutive large bearish candles, the low of 62,232 was reached, and the candlestick narrowed, entering an oversold weak recovery phase, not a bullish reversal. Trading volume has shrunk, rebound momentum is weak, overhead selling pressure is heavy, and in the short term, the market is mainly oscillating at low levels to repair.
Resistance levels: 63,600, 64,500
Support levels: 62,230, 62,800
Trading suggestions:
1. During the rebound at 63,500-63,800, lightly short with resistance, targeting 62,900-62,400, with a stop loss above 64,100; if it stabilizes above 64,500, abandon the short idea.
2. If it retests 62,300-62,600 and stabilizes with a small bullish candle, go short with a small position, targeting 63,400-63,800, with a stop loss below 62,100; if it effectively breaks below 62,232, do not go long, and follow the trend to short for new lows. $BTC $ETH