June 19 Evening Bitcoin Analysis



Intraday weak narrow oscillation, slight dip to 62,300 followed by a slight rebound, 24-hour close with a decline, bulls under pressure, main short this week.

Bearish logic: U.S. inflation rising, rate cut expectations cooling, Federal Reserve leaning hawkish, U.S. Treasury and dollar draining funds from the crypto market; BTC spot ETF continues large outflows, risk-hedging properties failing.

Technical outlook is fully bearish, rebound is weak. Short-term support at 62,000, strong support at 60,700; resistance at 64,000-65,200. Currently just a minor correction in the decline, no reversal signals, high risk of bottom fishing, watch for support at 60,800 and resistance at 64,800.

Trading strategy:
Short at 63,500-63,800, targeting 61,000; light long attempt at 60,800-61,000 $BTC
BTC-0.01%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 2
  • Repost
  • Share
Comment
Add a comment
Add a comment
ybaser
· 7h ago
Just charge forward 👊
Reply0
PrincessQingyue
· 8h ago
June 19 Evening Bitcoin Analysis

Intraday weak narrow consolidation, slight dip to 62,300 followed by a rebound, 24-hour closing with a decline, bulls under pressure, main bearish outlook this week.

Bearish logic: U.S. inflation rising, rate cut expectations cooling, Federal Reserve leaning hawkish, U.S. Treasury and dollar draining funds from the crypto market; BTC spot ETF continues large outflows, risk-hedging properties failing.

Technical indicators are all bearish, rebound is weak. Short-term support at 62,000, strong support at 60,700; resistance at 64,000-65,200. Currently just a minor correction in the decline, no reversal signals, high risk of bottom-fishing, watch for support at 60,800 and resistance at 64,800.

Trading strategy:
Short at 63,500-63,800, target 61,000; light long attempt at 60,800-61,000 with small position.
View OriginalReply0
  • Pinned