Li Ying in the cryptocurrency circle: Interpretation of the latest market trend for 6.6 Bitcoin (BTC) and operational suggestions

　　Dear family, the current price of Bitcoin is 60450, and it is at a very awkward and critical juncture at the significant level of 60000. Looking at the candlestick chart, this large bearish candle has directly fallen to 60600, just one step away from 60000. This place is the last line of defense for bulls and also a concentrated area for many leveraged retail investors' liquidations. The current market sentiment is very fearful, and everyone is asking: Can 60000 hold? Li Ying’s point of view is that at this position, betting on it holding is very risky. Because from the chart, the overhead pressure is too heavy, and each rebound is being suppressed. If it cannot quickly pull back above 61000 within the next few hours, then 60000 is very likely to be pierced like paper. When trading, we must respect the trend and not go against our own wallet.

　　The bearish forces are accelerating their release. In terms of candlestick patterns, there have been several long bearish candles recently, accompanied by increasing trading volume, indicating that the main capital is decisively offloading. The Bollinger Bands indicator has provided a clear guideline: the lower track of 60974 has formed the first dynamic resistance, while the middle track of 63004 is a strong resistance level. The current price is running outside or at the edge of the lower track, which belongs to a very weak area. Although the MACD indicator is at a low level, it has not formed a divergence structure, meaning the downward momentum has not yet been exhausted. In addition, the long-term EMA120 moving average is located at a high point of 69597, far from the current price, indicating that the medium to long-term trend has completely deteriorated. Any rise at this point can only be defined as a technical correction after an overselling, rather than a trend reversal.

　　Short-term reference:

　　For position trading at 59500-59000, exit if it falls below 58500, and target above 60500 aiming for 61500.

　　For spread trading at 62200-62700, exit if it loses 63100, and target below 61000 aiming for 60000.

　　The above content is exclusively original by Li Ying. Please indicate the source when reprinting! The publication review of the article has a delay, and the market changes rapidly; the above suggestions are for reference only and risks are borne by oneself. I hope Li Ying's insights will be helpful to you!

　　The content of the article is time-sensitive and for reference only; risks are borne by oneself.

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