6.29 BTC Midday Market Analysis



The daily-level moving averages have formed a complete bearish arrangement, with prices continuing to operate under pressure below all moving averages. The medium-term downtrend has officially taken shape. The $60,000 integer mark has been repeatedly broken, and the key psychological support for bulls has completely failed.

The current RSI indicator has entered the oversold area, and the market only has short-term repair momentum after the oversold condition. There is no sign of bottoming and stabilization yet, and the rebound space in this round is very limited.

Trading Strategy

In the rebound to the 60700-61200 range, enter short positions in batches, with a stop loss set at 61800; the first target is 59200, and the second target is the 58000 mark. #BTC
BTC-1.84%
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MildlyMEV
· 06-29 08:12
Bearish order alignment confirmed. This rebound can only be seen as a corrective move. You placed a short order around 60700—make sure your stop-loss is set and stay cautious.
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ForkInTheRoadmap
· 06-29 07:59
RSI is oversold but no stabilization signal, classic bearish continuation, the stop loss at 61800 is set quite wide. I plan to wait and see if 59200 can hold.
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