Currency Sea Riding the Waves: June 8 Bitcoin (BTC) Market Analysis Reference:

Bitcoin has made a rebound recovery, currently priced at 63,200. The daily level still maintains a strong bearish trend. The Bollinger Bands show a downward opening, with the price close to the lower Bollinger Band. The middle Bollinger Band forms a strong pressure for the medium to long term. The MACD double line remains deeply buried below the zero axis, and the bearish histogram has only slightly narrowed, without forming a golden cross to turn bullish. KDJ and RSI have long been in a weak range, with only a slight turn upwards, which is a technical rebound signal from the oversold situation. All EMA moving averages across cycles are in a bearish arrangement, applying pressure from top to bottom. The core resistance range is between 67,000 and 71,000. This rebound is unlikely to directly reverse the downward trend, and if the rebound encounters resistance and fails to rise significantly, there is still a possibility of retesting the lows or even breaking down further.

The short-term 4-hour level has already formed a bottom reversal recovery structure, with the price firmly above the middle Bollinger Band, and the Bollinger Bands are synchronously narrowing. The MACD completed a bullish crossover after a bottom divergence at a low level, with bulls continuing to gain volume, and all short-term moving averages have turned upwards, indicating strong short-term bullish support. The 1-hour chart is in a narrow consolidation below the previous small high at 64,200, with the MACD histogram gradually decreasing, and the upward momentum is significantly slowing down. KDJ and RSI have slightly retreated from a mildly bullish range, indicating insufficient short-term upward momentum. It is expected that the market will first maintain a range-bound consolidation to digest the pressure at the 64,200 level, making it difficult to rise strongly right away. If it subsequently breaks down below the 61,200 support, the 4-hour recovery structure will be completely invalidated, and the market will revert to a weak downward trend.

Currency Sea Riding the Waves: June 8 Bitcoin Short-term Reference:

Long Position: Buy in the 61,300-62,000 range, stop loss at 500 points, target at 63,000-64,000.

Short Position: Sell in the 64,600-63,900 range, stop loss above 65,200, target at 63,000-62,000.

[The above analysis and strategies are for reference only, risks are to be borne by yourself. The article review and publication may lag, and the strategies may not be timely. Please do not operate blindly.]

This article is originally shared by [Currency Sea Riding the Waves], representing only personal opinions. There may be delays in the article’s dissemination, for reference only, do not operate blindly! Want more daily real-time trades? Then follow my public account! Here, you can engage in online technical learning of the market, as well as understand related knowledge of exit strategies. I have years of research experience in the market, focusing on the overall trends in the cryptocurrency space. I mainly analyze and guide investment operations for BTC, ETH, SOL, BCH, and other currencies. Welcome to study together.

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