6.29 Early Morning Thoughts



Over the weekend, market action stayed in a narrow range with choppy consolidation, and BTC’s fluctuations were under 1,000 points. After a push higher on Saturday to 60,900, the rally lacked follow-through. With the U.S. stock market closed, downward momentum was not strong enough, so the market repeatedly pulled back and pushed forward within the overall range.

Daily price is hovering around the midline, with no strong bullish surge that reverses the downtrend. Short-term rebounds are only being used to absorb the decline. The weekly and daily formations still support a second attempt at a bottom. The broader trend remains unchanged, and the main approach is to sell short on rallies.

Trading Strategy
BTC: Short at 60,300–60,800, target 59,000–58,000
ETH: Short at 1,590–1,610, target 1,530–1,500
BTC-0.51%
ETH-0.24%
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What will the Bitcoin Implied Volatility index hit by June 30?
↑ 60
33.33x
3%
↓ 35
43.48x
2.3%
$619.21 Vol+5 more
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