Crypto Circle Academician: On 6.24 Bitcoin (BTC)—Is the Trend Reversal or a Short-Term Pullback? Latest Market Analysis

Bitcoin’s current price is 62,600, and the daily K-line is currently closing at 62,500. The price has broken below the EMA15/30 moving averages, putting it in a short-term downtrend. The MACD indicator’s DIF is moving closer to DEA, and bearish momentum is still being released. The Bollinger Bands are opening downward; the price is running near the lower band. Short-term support is expected to look toward the previous low at 59,080. Strong resistance is at the middle band pressure level at 66,370. The 100% Fibonacci extension level at 59,080 is the key defensive line for this selloff. If it breaks, the market will likely move lower into an even lower range, and a short-term rebound will not change the downward structure.

On the four-hour K-line, the market has again broken below the multiple support of the EMA15/30/60 moving averages, with the moving averages arranged bearishly and clear suppression. MACD continues to expand with increased volume. After DIF and DEA form a death cross, they diverge downward, and bearish momentum remains dominant. The Bollinger Bands’ opening narrows; after the price touched the lower band at 62,447, it rebounded slightly, but the strength is weak. The 23.6% Fibonacci retracement level at 64,684 is the first resistance overhead. If the rebound cannot break above this level, it will most likely continue the downward trend. Downside support is the previous low at 59,080. The market is currently in a weak, sideways-to-downward consolidation phase.

Short-term reference: There is no 100% certainty in the market, so make sure to set stop-loss for safety first—small losses and big gains are the goal.

Below 61,500 to 61,000: if it does not break, keep holding upward; stop-loss at 60,500; targets are 62,500 to 63,500.

Above 64,000 to 64,500: if it does not break, keep pushing downward; stop-loss at 65,000; targets are 63,500 to 62,500.

Specific actions should be based on the real-time data in the order book. For more information, please consult the author. The article has a publishing delay, so it is recommended to use it only as reference—risk is yours to bear $BTC ‌#预测世界杯英格兰VS加纳