BTC breaks through the descending channel, is 66K just the beginning? Lao Jin: Hold long positions for the mid to long term, short positions for the short term remain valid
Hello everyone, I am Lao Jin.
Today is June 23, 2026, Tuesday.
Let’s first review yesterday’s market, the trend can be said to fully meet expectations.
It’s not about going short, but rather going with the trend. A bullish trend does not mean one cannot go short; going short does not mean a bearish trend. Those who truly make steady profits earn every bit of profit from the market.
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Monday was just laying the foundation for this week
Many people ask, how much profit in a day counts as success?
My answer has always remained the same.
The greatest significance of Monday is not how much profit was made, but in establishing the rhythm for this week.
With profits in the account, the mindset can remain stable; with a stable mindset, execution can follow.
The most taboo in trading is to keep trying to make back losses after losing on the first day, which ultimately leads to more chaos.
Therefore, I prefer to take steady steps at the beginning of the week to prepare for the upcoming market.
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BTC: The descending channel has been broken, looking at 66K-67K above
From a 4-hour perspective, the overall structure is becoming clearer.
BTC has retreated from 82800 to around 59000, completing a deep adjustment.
Subsequently, the market began to stabilize and rebound, gradually forming a W bottom structure.
I have previously emphasized that 62300-63000 is a very important watershed.
When the price successfully stabilizes in this range, it means the previous descending channel is starting to lose its effectiveness, and the market officially enters a new rising phase.
Yesterday, the price successfully broke through the blue trend line and touched the resistance near 65000.
Therefore, we choose:
Continue holding long positions for the mid to long term.
At the same time, position for short near 65000, capturing 500 points profit before exiting.
This is the rhythm.
In an uptrend, one can also go short; but a short position is merely profit, not a direction.
Why do I still insist on being bullish?
Many friends have been discussing recently:
War, interest rate hikes, interest rate cuts…
In fact, these news items are not scary in themselves.
The true factor affecting the market has always been emotions.
When the market keeps discussing the same thing, its influence tends to weaken.
Whether it's geopolitical conflicts or Federal Reserve policies, over time, the market will gradually digest them.
When everyone believes that the negative factors have become a reality, these negative factors often have already materialized.
Therefore, I have always emphasized a saying:
Consolidation is also a form of breakthrough.
Not all breakthroughs must be a single bullish candle.
Many times, the main force will complete chip exchanges bit by bit through fluctuations, before launching a new upward movement.
Currently, BTC is in such a stage.
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What’s the outlook for the future?
In the short term, there is still some pressure near 65000.
If it can continue to stabilize at 65000, then the next challenges will be:
65500-66000-67000
Among them, 66000-67000 is still the target area I focus on recently.
Of course, the closer we get to the resistance level, the greater the probability of a short-term pullback. Thus my operational thinking will remain unchanged:
Long on trend. Short on pressure.
Keep mid to long-term positions unchanged, while continuously using fluctuations to reduce holding costs.
ETH: The pace is slow, but still worth the patience
Many friends have been asking recently: Will ETH catch up? My view has not changed. It will, but it needs time.
Currently, ETH's overall performance is significantly weaker than BTC, but the structure has not been broken.
Right now, focus on several key levels:
1766——Short-term key resistance
1790-1800——Further confirmation of strength
1850——Next phase target
The biggest characteristic of ETH is:
It rises slowly. But each time it genuinely starts, the sustainability is usually strong.
Therefore, I still maintain patience.
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BTC daily line still maintains a healthy structure
Looking at the daily line, the market still maintains a very typical upward rhythm.
Rise.
Pullback.
Rise again.
Pullback again.
This is the healthiest way of functioning in a bull market.
The real danger is not that the rise is too slow.
But rather that it accelerates continuously.
Because the slower it goes, the more solid the foundation; the more solid, the more the space ahead is worth looking forward to.
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Lao Jin's viewpoint
My view has still not changed.
BTC has completed the breakout of the descending channel, and the overall trend continues to be bullish.
There are still repeated fluctuations in the short term, but the direction has not changed.
On the operational side, insist on:
Holding long positions for the mid to long term.
Shorts for high positions.
Trade with the trend, and profits will naturally accumulate step by step.
There is trading every day.
Opportunities always belong to those who are patient.
I am Lao Jin, see you in the next analysis, goodbye.
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