6.29 morning market analysis Bitcoin rebound confirms resistance level, bearish trend has not reversed yet! $BTC $ETH

Yesterday, after Bitcoin rebounded to the 60500 line, it encountered strong resistance, bullish momentum significantly weakened, and the market fell under pressure again. In the morning, it touched a low near 58800. Although it received some support in the short term, the rebound strength is limited. Currently, it is only consolidating narrowly around 59500, and the overall trend remains weak.

From the four-hour chart structure, although the low point has moved up, the high point is also gradually moving down. It is a typical converging triangle consolidation pattern, and the probability of being a continuation pattern in a downtrend is high. Above, the moving average system is bearishly diverged, and the 60500-60800 area forms dense resistance, limiting the rebound space.

Trading Suggestions
In the 59500-59300 range, you can directly go short, with targets down to 58000-57000. If it doesn't break, then reverse to long.