$BTC 6.20 Evening Market Outlook

Today’s market fluctuation range was narrow throughout the day, with prices continuously oscillating between 63,000 and 63,900, without forming a clear upward or downward trend. There is obvious selling pressure at the upper boundary of the range, with sufficient suppression strength, and overall we continue to follow our previously established trading strategy. The current market is in a sideways consolidation phase, with buying and selling forces relatively balanced. During such oscillations, emotional and frequent trading should be avoided; do not chase after small rallies or sell on brief dips. Always trade in line with the larger cycle trend and patiently wait for key levels within the range to take action.

Looking at the 4-hour chart, the Bollinger Bands are generally trending downward, with the upper band steadily moving lower, indicating no change in the medium- to long-term bearish structure. After a deep decline, the price has relied on the lower band for support and begun a recovery. Currently, the price is under pressure below the middle Bollinger Band, which acts as a solid resistance. This rebound is merely a correction after the decline, lacking enough momentum to reverse the trend. The upper space is continuously limited by the upper Bollinger Band, indicating a clear upper limit to the rebound strength. On the 1-hour chart, the Bollinger Bands are slightly opening upward, showing a stepwise upward oscillation. The price is steadily rising along the middle band, with short-term bullish momentum still decent. However, after reaching the upper Bollinger Band, the bullish momentum quickly diminishes, and the price fails to extend gains, with candlesticks narrowing into a sideways consolidation.

Saturday night Bitcoin trading suggestion: Short near 63,700-64,200, targeting 62,200.
Ethereum trading suggestion: Short near 1,730-1,740, targeting 1,680.