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Tong Ge's BTC Thoughts for 6.26
$BTC Short around 599-604, stop loss above 610, first target 580, second target 550
Many people start calling the bottom as soon as they see a rebound, but Tong Ge still says: A rebound from a drop is not the same as a trend from a rise.
There is indeed support around 580, so the price was pulled back. But being pulled back is one thing, whether it can hold is another. Now around 600 has become a resistance zone again. As long as it cannot break through, the rebound remains a rebound.
This kind of market is most likely to get people emotional. They dare not short when it drops, but rush to long when it bounces, getting hit on both sides.