External bearish factors are applying pressure one after another, BTC's resistance to declines is maxed out, and buying low in the range is the best choice at present.



Last night, U.S. stocks fell sharply + BlackRock reduced its holdings of 4,755 BTC, a double bearish hammering. BTC only dipped to 58,400 and quickly recovered the 60,000 level. Short-selling pressure has been mostly released, and the downward momentum has been greatly weakened.

Macro liquidity expectations have improved. The current risk-reward ratio for going long crushes chasing shorts. Once U.S. stocks stabilize and recover in July, accumulated short positions will face a concentrated short squeeze, and the upside potential in the future is considerable.

Short-term range levels
Resistance: 61100
Daily pivot: 59800
Strong support: 58100#BTC
BTC0.90%
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