Scholar of the Cryptocurrency Circle: The bearish pattern of Bitcoin on the daily chart as of June 13 remains unchanged, a guide for entering during short-term highs and lows on the 4-hour chart! Latest market analysis and operation suggestions

Bitcoin is currently priced at 63,800. A significant drop has shattered the illusions of a bull market, with prices plunging from a high of 97,932 to a low of 59,080. Countless retail investors have bought in at the bottom and are now deeply trapped. Now rebounding to the 63,800 threshold, there’s a loud debate between bulls and bears across the network. Newcomers do not know when to enter or how much stop loss to set, while seasoned traders are uncertain if the rebound can continue. Everyone is searching for market interpretations, but they are all ambiguous platitudes. In fact, the thinking process is simple: go with the trend. As long as there are no reversal signals emerging from the downward trend, the strategy should be to go south at the resistance level, without considering anything else.

The daily K-line downtrend has not been reversed. Multiple EMA moving averages are suppressing from a high to a low. The 30 EMA is a significant mid-term resistance level, and the price is still over 5,000 points away from this moving average. The Bollinger Bands are opening down throughout, with the cryptocurrency price running between the middle and lower band, where the lower band at 56,298 serves as the ultimate defensive support on the daily chart. The MACD green bars have slightly contracted, indicating a slight weakening of the downward momentum, but the dual lines remain below the zero axis, with no golden cross reversal pattern formed. From the Fibonacci drop phase, this round of rebound has merely touched the 0 to 23.6% low range, which belongs to a weak repair rebound following a significant drop, not the initiation of a bottom reversal. The layers of moving average resistance above will significantly limit the upward space, with the larger direction remaining bearish.

The 4-hour K-line has formed a low stabilization rebound structure. In the short term, the 15 and 30 EMA moving averages have turned upwards, with the price stabilizing above the moving averages. The short-term northward atmosphere is warming up; however, the 60 and 90 mid to long-term moving averages still hang high above, forming strong resistance. The Bollinger Bands have shifted from a downward opening to a consolidation phase, with the middle band at 62,548 becoming a strong short-term support, while the upper band at 64,359 suppresses immediate gains. The MACD dual lines maintain positive operation above the zero axis, with red bars showing steady release of energy, indicating stable rebound momentum on the 4-hour chart. The Fibonacci 23.6% pressure level of 64,684 is the first hurdle short term; if this position is approached with insufficient volume, the market is likely to turn back to test the 63,000 moving average support, with limited upward rebound height.

Short-term strategy reference: follow the major cycle trend, with small stop losses and quick entries and exits

For the upward move from 63,000 to 62,500, set stop loss at 62,000, with a target of 63,500 to 64,500

For the downward move from 64,500 to 65,000, set stop loss at 65,500, with a target of 63,500 to 62,500

Specific operations should primarily rely on real-time data from the market. For more information, please consult the author. This article has a time delay in publication; the advice is for reference only, and risks are to be borne by readers themselves.

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