6.23 Bitcoin: Yesterday it surged then pulled back, trapping a bunch of people. Don’t step into the pit again today.

$BTC
Entry: Around 644-648, with a bull flag at 652. Watch 630-620.

Yesterday, the white chart slowly pushed upward, reaching a high of around 65,600, looking like a rebound was about to gain momentum. Many people got excited and chased in to buy the dip, but the market turned weak in the afternoon, falling all the way back, and by the close, it drifted around 64,000. The daily chart closed with a long upper shadow.

To put it plainly, this is a typical "pressure test failure" — the overhead trapped positions are too heavy, and without increased capital support, the rise is just filled with short-covering sell-offs, unable to hold. Friends who chased high yesterday are probably now stuck halfway up the mountain, feeling uncomfortable. This kind of movement has been very common lately: giving you a bit of hope, then hitting you with a heavy blow.

No need to worry about the big picture: the bearish dominance hasn't changed, and the phase bottom is far from confirmed. Don’t go all-in trying to bottom out. Based on the halving cycle pattern, the real bottom window is most likely around October. The frustrating phase has just begun. #沃什首秀美联储利率不变