June 26 — Early Morning Analysis

Yesterday, $BTC pushed up to a local high of 61,931 before a massive bearish candle triggered a sharp sell-off, with price falling to a low of 58,082—a drop of more than 3,000 points in the short term. This aligned with the cascade of liquidations caused by the sharp decline in U.S. equities mentioned earlier.

BTC is currently trading around 59,410, close to the Bollinger Band midline and in a post-selloff recovery phase. Price remains between the midline and lower band, suggesting that the medium-term structure is still weak. The upper band near 60,530 is acting as strong short-term resistance.

After the sharp drop, the Bollinger Bands have expanded significantly, indicating that volatility is likely to remain elevated. Bulls and bears are still heavily divided, so choppy price action may continue.

At this stage, the current rebound appears to be only a technical recovery following the sell-off. As followers who paid close attention know, after the previous drop, I mentioned in the June 25 early-morning analysis that BTC could rebound toward the 61,300–61,600 area. Once price reached the 61,600–61,800 zone, it presented a clear short opportunity.

Every rebound is an opportunity—either for long positions to take profit or for short positions to enter at better levels. Those who followed the plan likely captured gains today, especially compared with traders who were liquidated during the volatility.

So, can BTC return to 61,800 again today like it did yesterday? In my view, without significant new capital entering the market, a return to that level will be difficult.

Trading Idea for Today

Consider short-term short opportunities if BTC rebounds into the 60,800–61,500 zone.
Targets: 60,000–59,200
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