6.29 BTC, new week opening, monthly close imminent, bears still dominant


Two consecutive bearish weekly candles, price continues to decline along the lower band, KDJ and RSI both turning down, MACD bearish volume expanding. Daily chart also suppressed by the lower band, rebounds weak and powerless, no clear signs of stabilization in structure.
The 4-hour level is more typical—rebounds repeatedly blocked at the middle band, while the lower band is rising. Although KDJ is turning up, MACD bullish volume is shrinking. Technically there is a need for correction, but the price simply won't go up. This pattern is a classic low-volume bull trap, chasing rebounds offers extremely poor risk-reward.
Trading strategy: mainly short, supplemented by long; rebounds are only used as short reference, not for betting on reversal.
Upper resistance: 60500, 61500, 63000; short in batches on rebounds to these levels.
Lower support: 59000, 58000, 57000; only consider deeper levels if these are broken.
New week, first watch for bearish continuation, then decide major direction after monthly close. Stay steady. $BTC
BTC-2.26%
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