6.29 BTC Early Morning Analysis

After a period of high-level consolidation, consecutive large bearish candles with heavy volume pushed the price down, the Bollinger Bands opened downward, and the center of gravity continued to move lower, confirming a clear bearish trend. The price dropped all the way to 59236, forming a long lower shadow, indicating instantaneous support and a temporary halt to the sharp decline, but this was driven by short-term bottom-fishing capital's impulsive buying, not a strong bottom formation.

Subsequently, a small bullish candle formed, recovering to around 59582, but it remains firmly under pressure below the middle Bollinger Band of 59999, failing to break above the downtrend channel. KDJ is at low levels (K25.64, D29.61, J17.70), indicating only a weak rebound after an oversold condition. Volume has not increased correspondingly, and capital continues to flow out, providing no basis for a reversal.

The current phase is a repair stage within a downtrend, not a bottom reversal: The 59800-60000 area above is a strong resistance zone, and rebounds are likely to face pressure and fall back. The primary support below is 59236; if broken with heavy volume, a new round of decline will resume. Only with consecutive heavy volume standing firmly above the middle Bollinger Band and multi-timeframe resonance turning bullish will the bearish pattern reverse.

It is recommended to focus on shorting at highs: Short at 60000-60500, target 58000-58500. $BTC $GT $ETH #美光市值超越Meta跻身全美前十