⭐ BTC Today’s Market Update

As we mentioned yesterday, the short-term outlook is bullish, with a focus on buying dips. Early this morning, due to tensions related to US-Iran negotiations, BTC briefly fell below 64,000, hitting a low of 63,312. After that, Iran released a favorable signal indicating that the blockade would be lifted and that some frozen assets would be released. Bitcoin immediately began to rebound, with the rebound reaching the pressure level of 64,800 that we mentioned, and it is currently testing that level.

On the weekly structure, the cumulative decline in June is nearing 20%, and the moving average system has started to diverge downward, so the overall bearish pattern remains unchanged.
On the daily timeframe, the price has regained the MA20. During this pullback, it found support at the Fibonacci 0.5 level, but this morning’s close was at 63,311, forming a bearish candle. Compared with yesterday’s volume, this candle is a contraction in volume. From the current price, it can be seen that price has already surged upward. As long as it can hold steady at 64,200, the daily timeframe will still likely continue to test upward. But if it meets resistance again and then breaks down, it will continue to move lower.

Upper resistance: 64,800-65,300 — break above to see 66,200
Lower support: 64,200-63,500 — break below to see 62,200

Today’s outlook: Short-term bullish, but the medium to long term still follows a bearish trend.