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The market is still oscillating in a narrow range. The high of the wick at 63200 above Bitcoin forms a short-term isolated resistance. Multiple attempts failed to break through effectively, and the rebound momentum is gradually weakening.
Below, the 62500 Bollinger middle band is short-term key support. Holding the middle band will maintain range-bound sideways oscillation. If it continues to face pressure and falls below the middle band, it will retest the bottom support at 61500-61200.
Trading idea: At this stage, range oscillation is not suitable for chasing orders. Wait for the price to rebound and touch the upper resistance zone before placing short orders.
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