$BTC Today's Bitcoin morning analysis



The US dollar and US bond yields both rose, and the market generally predicts further interest rate hikes. A host of unfavorable news continues to weigh on the market, and Bitcoin's weekly trend has weakened overall.

The weekend market had little volume, with prices fluctuating slightly back and forth, showing no clear trend of rise or fall. A small early-morning rally was quickly knocked down, and after falling to the support level, it slightly recovered. Currently, it is consolidating in the middle of the range.

The market trend is clearly dominated by bears. Several attempts to break upward have all failed. This recovery is only a short-term rebound after a sharp drop. The bulls have no confidence to push higher. The hourly chart has shown topping signals, with continuous selling pressure from above. In the short term, the bulls have almost no power to counterattack.

Trading strategy: Short near 60500, target 58500.
BTC-0.62%
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