Crypto Circle Li Ying: 6.20 Bitcoin (BTC) Latest Market Analysis and Trading Recommendations

Family members, Bitcoin is currently priced at 63,200. Looking at recent trends, it previously surged above 67,000 and has been retracing since. Now the downward momentum seems to have slowed. But don’t rush to buy the dip; you need to see what the technical indicators say. First, look at the moving averages: the short-term EMA7 and EMA30 are both pressing above the price, indicating that the short-term is still dominated by bears; the MACD rebound strength is questionable; the middle band of the Bollinger Bands is also overhead, with the price fluctuating between the middle and lower bands, and volatility is being compressed. Overall, it’s a consolidation with resistance above and support below; entering the market requires clear signals.

From a technical analysis perspective, the EMA120 in the moving average system is a key medium-term resistance. Without a firm hold above it, a big move is unlikely; the MACD’s DIF and DEA are both in the negative zone, and although the green bars are narrowing, a golden cross has not formed, indicating insufficient bullish momentum; the Bollinger Bands are narrowing, with the middle band at 63,298 acting as a short-term dividing line. A break above could attempt higher levels, while a break below might test the lower band at 61,862. Regarding volume, recent activity has significantly decreased, indicating reduced bullish and bearish divergence and that a trend reversal is approaching. Overall, Li Ying sees this as a weak correction after a decline, and further action should wait for indicator resonance signals.

Short-term reference:

- Long position at 62,500-62,000, exit if below 61,500, target above 63,000 aiming for 64,000
- Short position at 64,000-64,500, exit if below 65,000, target below 63,500 aiming for 63,000

The above content is exclusively original by Li Ying. Please cite the source when reprinting! Due to delays in article review and market volatility, the above suggestions are for reference only; trade at your own risk. We hope Li Ying’s analysis can be helpful to you!

The content is real-time and for reference only; $BTC trade cautiously.