6.29 Monday Morning Latest Bitcoin Ideas



The weekend was range-bound, with short-term rebounds hitting resistance at 610 before pulling back. Currently, it has paused around the 598 area, consistent with the range path outlined on Saturday.

Structurally, the overall trend remains bearish-dominated. The short-term rebound is merely a normal correction after the drop. The 4-hour Bollinger Bands are tilting downward, and the smaller timeframe is capped by the mid-band. Notably, the KDJ indicator below is about to enter the oversold zone, suggesting a potential short-term rebound correction. Bitcoin is currently at a low level, so blindly chasing short positions is not advisable.

In the early morning, consider shorting above 60k, targeting the 585-570 area.
BTC-0.63%
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