6.26 Friday Midday Market Analysis


Bitcoin's daily chart shows three consecutive bearish candles, hitting a low around 58100. Currently, the price is in a low-level consolidation phase, with short-term bears relatively strong. In short-term positioning, continue to treat the trend as bearish. The short-term resistance is around 61000. The bearish trend is extremely consistent, with continuous decline after breaking support, and no effective rebound throughout, showing no supporting strength from bulls.
The current slight rebound is merely a technical overbought correction after a sharp drop, not a stabilization reversal. This weak correction is just accumulating power for bears. After the correction ends, a new round of decline will begin. The overall trend remains bearish, so firmly go short on rallies.
BTC Trading Suggestion: Short at 60000-60500, target 59000-58500, near the new low below can reverse to long.
ETH Trading Suggestion: Short at 1570-1600, target 1520-1500, near the new low below can reverse to long.
BTC1.03%
ETH1.79%
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