1. Current Market Status (Short-term Trend)

BTC (Bitcoin)

Current price range: $59,000~$60,200. In June, there was an overall sharp pullback, with a monthly decline of over 25%. From the previous high of $80k+, it entered a medium-term oscillating downtrend channel.

- Technical structure: The daily chart has broken below all short-term moving averages, forming a bearish continuation pattern. The rebound continues with shrinking volume, indicating a weak pattern of "downside on heavy volume, rebound on light volume"
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- Key Levels (Bull-Bear Watershed)
✅ Short-term support: $59,000~$59,100 (recent double-bottom test level). Only if it does not break on the second test will there be a basis for an oversold rebound.
✅ Strong support: $57,000~$58,000, a key structural support of the current uptrend. If lost, it will open up deeper retracement space.
❌ First resistance: $60,500~$61,000 (support turned resistance after breakdown)
❌ Strong resistance: $62,000~$62,500. Only if it holds above here with heavy volume can the short-term bearish trend be ended.