6.23 Market Trends

BTC

1️⃣ Daily chart: Yesterday surged to 66,000 and closed with a long upper shadow, oscillating along the fan-shaped channel. Touching the midline often leads to a pullback, while touching the lower band tends to rebound. Current price is at 64,000 with weak oscillation, and 1-hour chart shows continuous bearish decline.

2️⃣ Yesterday, the midline short position remains open without taking profit. The market is expected to break below the lower band, with the first target at 62,500 (previous low support); after reaching it, consider taking profit and opening a short-term long position. For the rebound, watch for resistance at 63,400 to continue the decline.

3️⃣ Overall rhythm: open short at the midline → decline below the level to 62,500 with profit-taking on short-term longs → rebound to test liquidity above, then resume downward movement.

SOL

1️⃣ The previous high in the 74-75 range indicates a short opportunity. The current price at 71 continues to decline, with the bearish candle not stabilizing. The downtrend is not over; target to close short positions at 68.

2️⃣ Technical pattern shows an M-top, with double top resistance zone offering a favorable risk-reward ratio for shorts.

Trading Mindset Reminder

In choppy markets, avoid frequent switching between long and short positions. Stick firmly to established support/resistance levels and trading plans. Repeated indecision will likely lead to sustained losses.

Additional

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