6.20 Bitcoin Intraday Analysis



From the 4-hour chart, the 672 level has already formed the top of this upward phase, and the market has entered a continuous stepwise decline. The overall bearish trend structure has been established, and the recent rebound is a weak correction within a downtrend. Currently, around 636, with the 640 level above having shifted from previous support to a strong intraday resistance zone, this is an excellent short entry area.

During the current rebound, the upward volume continues to shrink, the bulls' counterattack strength is weak, and indicator rebounds are under pressure. Small-scale upward movements are likely to be trap moves to induce buying and shake out traders.

Today's operation can wait for the rebound to reach the 639-640 range to establish short positions, with the first target at 630 and the #我的Gate交易时刻 second target at 622, a new low.
ETH1.76%
BTC1.65%
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