The weekly chart of BTC is undoubtedly set to end with another small bearish candle. And as we get close to the end of the month, price action is likely to be relatively volatile. In terms of the broader trend, it still favors short positions. 58000 may not be the bottom point of this dip, and any rebound will not be able to withstand the overall trend.

The US interest rate hike expectations have not fully started to play out yet. If the three rate hikes take effect, 48000 is likely to be reached as well.

Looking ahead to July, August, and September, it is possible that one such move could occur in each of those months. And when new lows near the end of the year are tested again, spot traders should pay attention—there’s no rush to enter long-term positions.

From a short-term perspective, the MACD on the weekly chart is running with a death cross. On the daily chart, the smaller cycles may see a rebound. On the daily chart, watch the 61600--62300 area above the price—this is an important resistance zone.

You can short BTC in batches in the 62000--62500 range, with targets around 59000 on the downside.

US-Iran negotiations are about to happen again. Volatility will swing back and forth depending on the outcome. But on the 6-hour short-term cycle, the bottom divergence has not yet fully completed—there may be an additional short-term long setup once.

For BTC, consider buying in batches at 59600-60200, targeting 61800 and 63000.