Mr. Coin Circle: June 1 Bitcoin (BTC) Market Analysis Reference

The price of Bitcoin is currently 73837. Although it is still below the middle Bollinger band, the downward trend has not completely reversed. However, the RSI has dropped to 31, entering the oversold zone, and the short-term downward momentum is starting to weaken, indicating a need for a rebound and correction. Looking at the 4-hour chart, the situation is different; the MACD has turned bullish with a golden cross, and the price has stabilized on the lower Bollinger band. The bearish momentum has been mostly absorbed, starting a corrective trend that appears to lean towards bullish fluctuations.

On the short hour level, the MACD continues with red bars, and the KDJ is above 50, indicating a short-term bullish dominance. However, the J line has reached a high position, posing a risk of correction due to overbuying. The first resistance level above is at 74300-74500, with strong resistance at 76000; the support below is at 73300, with strong support at 72400.

Overall, the daily trend is bearish, but there are rebound and correction opportunities in the short-term 4-hour and 1-hour charts. This is a weak rebound, not a reversal. In the short term, going long can be attempted near 73500, aiming for 74300. If it drops below 73000, then take profits. For the mid-term, wait for a rebound to around 76000 to consider going short, targeting the previous low. Follow Mr. Coin for real-time market analysis.

June 1 Bitcoin Short-term Reference:

Short to the south in the range of 75500-76500, defend at 77500, stop loss at 500 points, target below 74500.

Long to the north in the range of 72800-73300, target above 74000, stop loss at 500.

There is a delay in sending updates, and the strategic suggestions are for reference only. The market changes rapidly; regardless of how accurate the market judgments are, always place stop-loss and take-profit orders to ensure safety.

For more real-time trading strategies and online technical learning, as well as strategies for exiting positions, you can follow the mentor's public account (Mr. Coin Talks Currency) to obtain the adding method: the first ten daily can receive complimentary strategy providing for exiting positions.

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