6.24 Afternoon Bitcoin Market Analysis

From this morning until now, the price has been fluctuating around the 62,400-63,100 range, and neither the upward resistance nor the downward support has shown a clear trend of breaking through. Although short-term momentum continues to be released, the trading volume participation is not high enough to support an upward breakout. The “ETH” is oscillating within the 1650-1680 range, with momentum release similar to that of “Duo Tou”. There's no need to follow others' rhythm; just focus on doing your own well.

Looking at the 1-hour chart of Bitcoin, the current candlestick is within the channel formed by the upper and middle bands of the Bollinger Bands. This channel is only slightly turning upward when Duo Tou's momentum appears, and it does not necessarily indicate that the subsequent trend will continue to rise. Although there was a double bottom around 62,000 yesterday, this position is not safe for Duo Tou now; if the “Kong Tou” volume increases, it will be hard to resist. Moreover, the entry point now might take a long time to play out, which can be quite frustrating. Therefore, I personally suggest waiting for the volume to break the support or resistance area before choosing a direction. Rational patience is always better than reckless trading. #以太坊基金会重组降本 $BTC