June 25 BTC/ETH Market Morning Brief: 59k is not the bottom, any rebound is an opportunity to short

Yesterday, Bitcoin price once dropped to around 59k, rebounded near the previous low, which is understandable, but Jiang Feng believes that it is at best a continuation pattern, and the rebound gives us bears a chance to enter!

Since the end of last October, by analyzing the halving cycle pattern, he has quite insightful views, deducing that Bitcoin's 126.2k is the top of this cycle, which has now been verified, and the bottom will appear between June and November this year. Interested friends can go through Jiang Feng's historical articles. Given the current unfavorable macroeconomic news, the probability of the Fed raising interest rates is greatly increasing, and ETFs continue to see heavy outflows, which does not support any signs of a bottom. The real bottom is likely to appear between September and November, which will be the perfect time to position for a bottom-fishing opportunity! Now, shorting on rebounds is the wise choice!

Bitcoin:

Focus on resistance near 61,600–62,300, target supports below near 60,600–59,800–58,000–53,000

Ethereum:

Focus on resistance near 1,639–1,666–1,690, target supports below near 1,600–1,550–1,510–14,440

Note: It is recommended to participate with light positions. When the opportunity is not here, keep your hands still and do not blindly buy the dip!

Do you now expect a rebound to continue downward, or do you think it has already bottomed out?

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