6.29 Bitcoin Morning Market Analysis



Yesterday's overall market was weak, with prices rising to 60924 before facing resistance, then pulling back and losing the 60000 integer mark. After a brief rebound, it fell again, hitting a low of 58888 in the early morning.
On the hourly chart, the K-line has been consistently below the middle Bollinger Band, with the bands opening downward, maintaining a bearish trend.

Currently, 58500 is a key short-term support level. After the overnight bottoming, the market has entered a range-bound consolidation, with a higher probability of a bullish recovery during the day. The first resistance above is 60500, with strong bullish pressure at 61000.

Trading idea: If the price pulls back to around 59000, consider opening a long position, with the first target at 60500 and stop loss set below 58500. #BTC
BTC-1.84%
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