June 25 BTC/ETH Market Evening Report: Don't Mistake a Bounce for a Reversal! Focus on Whether 62.2k Holds!

During the day session, BTC rose to around 61,930. Many are likely shouting "reversal" and claiming they caught the absolute bottom. But if you dig into the macro economy, on-chain data, ETF fund flows (recent massive outflows), and the halving cycle patterns, you'll see we're still in a mid-downtrend. The worst may still be ahead?

Today's View:
Focus on whether the 62,200 level holds. If it's not broken, continue to be bearish! Ethereum is under pressure at 1,666. If it's not broken, stay short!

Since BTC topped at $120k in October last year, Jiang Feng has been tirelessly warning everyone publicly that the bull market top has arrived and that the long bear market decline is ahead. Recently, he's been giving out short orders—whether above $80k, $70k, or even near the recent high of $67k. If you've been reading Jiang Feng's articles carefully, you should have profited greatly!

Today, Jiang Feng continues to favor short positions at highs:

On the daily chart, yesterday touched around $59k and bounced back nearly $3,000, but the resistance above remains clear. As mentioned in the morning report, any bounce is an opportunity to short from highs! Short positions around BTC 61,600-62,300 and ETH 1,639-1,666 have already been entered. Hold patiently and focus on the key support levels tonight to layout short positions:

Bitcoin: Resistance near 62,200-63,200, support near 60,600-59,800-58,000-53,000

Ethereum: Resistance near 1,666-1,690, support near 1,600-1,550-1,510-1,450

The essence of trading is not prediction, but to bet once with a controlled stop-loss at key levels. If the direction is right, hold for the long term; if wrong, exit in time with a stop-loss. Those who persist will be the winners!

Do you think we've hit the bottom now? Are you more bullish or bearish?

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