6.29 Afternoon Bitcoin Market Analysis

In the morning, the price moved around the 58800-60000 range, playing out a struggle for control between bulls and bears, but it’s clear the bulls ultimately won out. And judging from the past few candlesticks, each time the price fell, the bulls quickly rebounded it, resulting in many candlesticks with long lower wicks—this also shows that there is buy-side support and follow-through around 59000 in the short term. The same applies to the situation with ETH: it formed a brief support around 1550. Accepting that you may make a wrong judgment is not something to be ashamed of; stubbornly holding onto losses and self-deception are the biggest mental burdens.

Earlier, we also advised that you should wait to see confirmation of pressure at 60000 before attempting to go in, so at that time there was no suitable entry. Now, on the 1-hour timeframe, although the bulls’ volume is contracting, the momentum is still gradually increasing as it releases, and the KDJ is also diverging upward—giving the short-term setup an advantage. The price has now rebounded to above 60000 again and is facing the pressure zone at 60500-60300. If it can hold above 60000 and build up energy, there is a chance to challenge the pressure level and continue the bulls’ counterattack trend, then pull back to test around 59500. #Saylor暗示增持BTC