6.24 Afternoon Bitcoin Market Outlook

This round of rebound is only a brief respite after a sharp decline, and the overall downward trend has not changed, with the market showing very clear weakness characteristics.
Bitcoin has been falling continuously from the high point of 65,600, dropping to a low of 61,800 before slightly recovering, currently trading within a narrow range around 62,600. Both long-term and short-term moving averages are aligned downward, forming resistance, and trading volume has been shrinking during the rebound phase. Buying momentum is insufficient, and the market's highs are continuously moving lower. The 62,800-63,000 range has already formed a strong resistance barrier.

From the 4-hour chart perspective, the highs are gradually decreasing, with the bears maintaining dominance throughout, and support below is weak. Each small rebound is met with selling pressure. The current rebound space is limited, and there is still room for further decline. The overall strategy remains to follow the trend and stay bearish.

Trading strategy
During the rebound, consider entering short positions in batches around the 63,300-63,800 range, targeting a drop to around 61,200. Use light positions, strictly set stop-losses, and control risk. $BTC $ETH #以太坊基金会重组降本