June has come in with a bang, as Bitcoin has plummeted sharply, dropping from the 78 level to about 66 now, a decline of over ten thousand points, leading to renewed market turmoil. Regarding the current trend, it is advisable to go with the flow.

On the four-hour level, the price has significantly retreated, breaking below the Bollinger Bands and continuously pulling the moving average indicators downward, in an extremely oversold zone. The Bollinger Bands' opening is directed downward, with the bearish trend fully established. The MACD dual lines have crossed below the zero axis, and the bearish green bars continue to increase in volume, with short-cycle bearish momentum being released, and no signs of a stop in the decline, indicating strong bearish signals.

On the daily level, the candlestick has repeatedly shown large bearish bars retreating. The one-sided pattern is clear, and now the focus is on whether the 65000 level can hold. If it breaks, the bearish trend will continue; for now, any rebounds should be shorted.

Intraday, it is recommended to short around 67000-67300, with the first target seeing the 65000 level. If it breaks below, we could see around 62000, the levels are for reference only.

Follow the official account, for worries to be resolved, only Jiang Wei can help. A treasure analysis blogger with high emotional value, sharing trading education for free, bringing stability and clear guidance in the restless trading market, traversing three cycles of bull and bear markets and years of practical trading experience, skilled in naked K, trends, Dow Theory, Gann, harmonics, Chan theory, wave theory, among other technical analyses, collating unique insights.

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