6.23 Afternoon Bitcoin Market Analysis

In the morning, we observed the market trend. Although Bitcoin did not break below the support level at that time, the buying momentum was insufficient, and the rebound strength could not be sustained. As noon approached, Bitcoin started to decline, and we did not hesitate to follow the plunge. Subsequently, the market was affected by a collective sell-off in tech stocks, with Bitcoin's selling volume matching the price decline, hitting a new low of 62,532 this week, and giving us a thousand-plus point drop space. The "mistress" side retraced the trend in sync and also gained a good profit. The market's dividends should be taken in a timely manner; don't try to capture the entire wave, leave some for others, and also leave some safety for yourself.

From the 1-hour chart of Bitcoin, it just experienced a wave of selling volume release, and the 62,500 level has support, with the candlestick forming a relatively long lower shadow. However, in the short term, the selling momentum is still continuing to be released, and the attack on the top may not have ended yet. The KDJ indicator has not yet formed a bullish crossover at the low levels. If the selling volume increases again, it is very likely to head towards the previous low of 62,232. Currently, we need some time to observe the market trend. Watch whether the price can break above 63,200-63,500; otherwise, the buying momentum remains unstable, and a strong rebound cannot be expected. The "mistress" side's retracement is stronger, with resistance levels at 1,700-1,710. $BTC