Bitcoin tested the lower support as expected early this morning, after touching the daily low of 63600, it stopped falling and rebounded. As of the time of writing, the price is around 64500. Observing from the daily chart, the price encountered resistance at the middle band of the Bollinger Bands, returning below the EMA moving averages, with MACD bullish momentum weakening, KDJ indicator showing a downward crossover, and RSI indicator in the weak zone. There is significant selling pressure from the longer-term moving averages above, making it difficult to break through in the short term, with a high probability of retesting the previous low point support later.

On the short-term 4-hour level, the current price has retreated to the lower band of the Bollinger Bands. The MACD indicators DIF and DEA are diverging downward, indicating that bearish strength is still being released. The KDJ indicator is in the low range, and the RSI indicator has simultaneously retreated to the neutral lower range. The short-term downward momentum is not completely exhausted yet, currently in a corrective adjustment phase, making the rebound likely weak. The possibility of breaking the lower Bollinger band support exists, which will further open up the downside space.

Wave in the crypto sea: Short-term reference for Bitcoin on June 18:

Long positions: Buy in the 62500-63500 range, stop loss below 62000, target at 64000-65000,

Short positions: Sell in the 65800-64800 range, stop loss above 66500, target at 64300-63300,

[The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and strategies do not have timeliness. Do not operate blindly.]

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