$BTC Crypto Circle Academician: On 6.24, is Bitcoin (BTC) set to reverse the trend, or is it only a short-term pullback? Latest market analysis

Bitcoin is currently trading at 62,600; the daily K-line is currently closing at 62,500. The price has broken below the EMA15/30 moving averages and is in a short-term downtrend. The MACD indicator’s DIF is moving closer to the DEA, while bearish momentum is still being released. The Bollinger Bands are opening downward, and price is trading near the lower band. For short-term support, attention is on the prior low of 59,080. The strong resistance above is the middle band pressure level at 66,370. The 100% Fibonacci extension at 59,080 is the key defensive line for this decline; if it breaks, the price could move into even lower ranges, and short-term rebounds are unlikely to change the downward structure.

On the four-hour K-line, the price has once again broken below the multi-layer support of the EMA15/30/60 moving averages, with the moving averages arranged bearishly and clear suppression. MACD continues to expand in volume; after DIF and DEA form a death cross, they diverge downward, indicating bearish momentum in control. The Bollinger Bands’ opening begins to contract; after price touched the lower band at 62,447, it rebounded slightly, but the rebound strength is weak. The 23.6% Fibonacci retracement level at 64,684 is the first resistance overhead. If the rebound fails to break through that level, the downward trend is likely to continue. Support below is the prior low of 59,080, and the market is currently in a weak consolidation-to-down phase.

Short-line reference: There is no 100% certainty in the market, so always set stop-losses—safety first. The goal is small losses and big gains.

Below 61,500 to 61,000, do not break northward: stop-loss at 60,500; targets at 62,500 to 63,500.

Above 64,000 to 64,500, do not break southward: stop-loss at 65,000; targets at 63,500 to 62,500.

For specific execution, rely mainly on the real-time order book data. More information: you can check with the article author. The article may be delayed; for reference only—risk is borne by yourself.