6.21 Morning Market Thoughts $BTC

Early this morning, Bitcoin started a sideways upward movement from a low point, with the market gradually rising and forming consecutive bullish candles, attempting to test previous high levels. After reaching a peak, the bulls showed signs of fatigue, unable to hold the high zone, and then a bearish candle appeared, indicating a pullback after the surge, maintaining a range-bound oscillation overall. In fact, market fluctuations are normal; a brief rally does not mean the trend has completely reversed. Many people see the rise and become impatient to enter the market, only to get trapped at high levels. The most difficult part of trading is staying calm, not being swayed by short-term ups and downs, understanding the true momentum of the market before making judgments. Patience and composure help avoid unnecessary losses.

Looking at the 4-hour chart, the previous trend experienced a deep decline and bottoming out, then entered a phase of continuous recovery after reaching a low. Several bullish candles steadily lifted the price, gradually recovering much of the previous decline. After testing the upper resistance zone at a high point, the bulls' increasing capital began to diminish, unable to break through the key resistance level, followed by a series of bearish candles, forming a clear pattern of a surge with stagnation. On the 1-hour chart, the candlestick bodies are gradually narrowing, with bulls and bears entering a short-term balance tug-of-war. The momentum to push higher is severely lacking, with short-term resistance forming a strong ceiling. Without sustained buying support, the market is in a consolidation phase, making it difficult to see a new continuous rally. Selling pressure above could be released at any time, so it’s not advisable to blindly chase longs. The risk of oscillation and resistance persists; it’s better to focus on shorting during rebounds.

Sunday morning Bitcoin trading suggestions: Short around 64,300-64,800, targeting 63,000. Ethereum trading suggestions: Short around 1,745-1,765, targeting 1,700.