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June 20 Evening Bitcoin Chart 🍜 Market Outlook
Surging high with stagnation, high-level oscillation!
The market experienced a deep V-shaped reversal and strengthened, continuously rising from the low of 62272, reaching a stage high of 63894. After the bullish momentum weakened at the high, currently at 63571, it is oscillating narrowly at a high level.
After a significant rebound, selling pressure gradually appears above, with consecutive small candlesticks with upper shadows, indicating a short-term need for a pullback and consolidation. The long-term bullish structure has not reversed; this is only a technical correction at a high level.
Resistance levels: 63900, 64300
Support levels: 63300, 63150
Trading suggestions:
1. Enter short positions on rebounds in the 63800-63900 range, with a stop loss above 64050. Targets are sequentially 63400 and 63200. If it breaks below 63150, hold for a deeper pullback.
2. Buy on dips in the 63300-63400 range, with a stop loss below 63150. Targets are 63700-63900. If it stabilizes above 64000, look for a move towards 64300. $BTC