June 29 BTC Morning Review


The overall long-term trend remains bearish. The Federal Reserve's high interest rate policy will suppress market prices for a long time. The situation in the Middle East is easing, safe-haven funds are exiting, making it difficult to drive prices higher continuously.

At the daily level, multiple tests around 59000 have resulted in long lower shadows, which is consolidation after an oversold rebound following a rapid decline. Each upward rebound meets resistance, with highs constantly lowering. This rally is only a short-term technical recovery, and the overall trend has not shown any reversal signal.
The RSI indicator remains in the oversold zone, the MACD indicator runs below the zero line, and bearish momentum is still sufficient; the Bollinger Bands are opening downward overall, leaving room for further downside below the price.

Trading plan: Enter a short position on a rebound to the 61500-62100 range, set stop loss at 62700, first target 59500, and further downside to 58000.
BTC-1.94%
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