June 29 Bitcoin (Big Cake) Market Analysis

The overall long-term bearish structure has not changed. The Fed's sustained high-interest-rate environment will keep market liquidity tight over the long term, continuously suppressing the upward space for coin prices. Currently, geopolitical tensions in the Middle East are gradually easing, with risk-averse funds continuously withdrawing from the market. Lacking bullish support, it is difficult to sustain a rising trend.

The daily chart has repeatedly tested the 59000 level, forming long lower shadows, which is merely a oversold rebound and consolidation pattern after a significant decline. Each rebound has encountered strong resistance, with highs continuously moving lower. This current rally is only a short-term technical repair, and the chart has not shown any trend reversal signals.

On the indicator side, bearish signals are clear: RSI has been hovering in the oversold zone for a long time, with weak rebound momentum; MACD is running below the zero line, with sufficient bearish momentum; the Bollinger Bands are opening downward, with the overall downward channel intact, indicating further downside space in the future.

Trading Strategy

When prices rebound to the 61500-62100 resistance range, take short positions in batches, with a unified stop-loss at 62700. The first profit target is 59500, and the second target below is 58000#btc