June 29 Early Morning Thoughts on Bitcoin

Many partners are misled by the small sideways movement over the weekend, mistakenly thinking the downtrend is over and rushing to bottom-fish. However, the four-hour chart has already clearly shown the weakness. The price plunged to a low of 58031, and the sideways movement over the past two days is just a continuation of the downtrend. Every small rebound lacks any support, and the bulls have no confidence to counterattack.

At the current price of 59478, it is firmly suppressed by the moving averages. The Bollinger Bands continue to slope downward. For intraday rebounds to the 60500-60800 range, directly enter short positions with a stop loss at 61200. First target is 59000. If it breaks, look towards the previous low of 58031.#BTC下探60000美元关键关口 $BTC