6.25 Early Morning Bitcoin Market Analysis

Since the US stock market opened last night, the price has been falling steadily. During a 1-hour timeframe sequence of six consecutive bearish candles, nearly five of them were accompanied by a noticeable increase in trading volume, showing how strong the bears were at that time. However, under this trend, although the price broke below the previous low, it only offered an additional 20-point downside and still failed to break through the support at 59000. Later, at around 4:00 AM, the market was influenced by a favorable signal, and the price continued to extend its rebound and repair trend, pulling the price back to the 61000 area. Ethereum moved very differently. Yet from the previous low of 1503, it still had nearly 50 points of room. After it bottomed out at 1551, it began to rebound and repair, returning to around 1620. One thing to remember: be patient with the market, and control your position size rationally.

On the daily chart, Bitcoin once again moved away from the middle band and is slowly edging toward the lower band. Looking at the 4-hour timeframe, a single-bodied bearish candle directly pierced through the lower edge of the sideways range of 62400-63200 from the past few days, confirming a breakdown pattern to the downside. With volume in alignment and insufficient buy orders below, the price’s downward movement is almost like a free-fall. Although the KDJ has formed a golden cross, it is still in a weak position and remains a technical rebound after an oversold condition. In the short term, the first resistance overhead is 61500-61800, while the main support below is the 60000 level—if that level is lost, look further to 59000. For Ethereum, first look for support at 1600; as for the upside, pressure can cause a pullback—then follow Bitcoin’s lead and adjust accordingly. $BTC #BTC下探60000美元关键关口