6.20 Bitcoin Evening Strategy Analysis: Shorting at Highs

In the afternoon, Bitcoin reached a high of 63,894 and then entered a wide-range consolidation. Currently, the price has fallen back to around 63,670. The candlestick pattern shows clear selling pressure above, with multiple attempts to push higher unsuccessful. The Bollinger Bands are narrowing, indicating the market is digesting the previous gains, and short-term sideways trading is underway.

Although the overall trend remains bullish, the KDJ indicator has formed a death cross at high levels and is diverging downward, and the price has not effectively stabilized above the upper Bollinger Band. Considering the heavy resistance in the 63,800-63,900 range and the large sell orders from the main force suppressing the price, the short-term rebound is weak, and a pullback to the middle band is likely. It is recommended to adopt a short-selling strategy on rallies.

Trading suggestions:
Continue with the afternoon strategy, gradually short on rebounds to 63,800-64,000, with stop-loss near 64,500, and targets at 63,200-63,000. #我的Gate交易时刻
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