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6.20 Morning Bitcoin Market 🍜 Poetry Viewpoint
High point jumps and low point repairs, no signs of a reversal for the bulls!
The overall market is dominated by a bearish trend, after reaching the stage high of 66419, it gradually declined, with a volume spike and long downward candle probing the low of 62232, now at 63261, slightly fluctuating in the low zone for repair.
The market and the "Auntie" trend are highly correlated; after a sharp decline, a short-term stabilization and repair occurred, but the previous dense bearish candles above indicate resistance, and the bulls' offensive strength is weak. Currently, it is only a technical rebound with weak momentum, and the long-term downward correction structure remains unchanged.
Resistance levels: 63600, 64300
Support levels: 62800, 62230
Trading suggestions:
1. Enter short positions on rebounds in the 63500-63800 range, with a stop loss above 64400, targets sequentially at 62900 and 62300, and hold if it breaks below 62230 for a new low.
2. Buy on dips in the 62300-62800 range, with a stop loss below 62150, targeting 63500-63700. $BTC