Hello everyone, I am Jin Zhechuan.
Today is June 24, 2026, let's take a look at the overall market trend.
Yesterday, the market weakened overall, with Bitcoin retreating from around 64500, hitting a low of 61800. During this market panic, we chose to buy near 61900, and then it rebounded to 63000, realizing a wave of rebound profits.
Next, let's return to the charts and see the direction ahead.
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BTC: The market enters a period of direction selection
The daily chart is weak and has not truly stabilized yet.
First, let’s look at the daily chart.
The day before yesterday, Bitcoin surged to around 65500 and then experienced a noticeable retracement, forming a long upper shadow inverted hammer pattern. Yesterday, it again closed in red, indicating that bears still hold the initiative.
Currently, the market has not exhibited a true stabilization.
The biggest characteristic right now can be summarized in two words:
Sideways.
And sideways movement is not an end, but rather a waiting for a new direction.
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62800 is the most critical level now
Next, we need to pay close attention to 62800.
If it can stabilize again and remain above this level continuously, then the market will have a chance to reopen the upward space.
If it cannot hold 62800, then the market will remain weak.
To the downside, we first look at:
Support around 62500
Previous low of 61800
Round number level of 61000
If 61000 fails again, the market is likely to continue to decline.
The next target will look toward:
59000.
If the bears continue to exert pressure, we cannot rule out the possibility of testing the previously analyzed support around 55000.
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There are still opportunities for upward movement
Although the current bias is bearish, it does not mean there is no possibility of an upward movement.
If the market can stabilize for several days and successfully break through the bearish engulfing structure formed on the daily chart, then the upward space will reopen.
The first step is to retest:
64000—64500 resistance area.
After breaking through, continue to pay attention to:
66000.
If the entire upward process goes smoothly, then there will be a chance to challenge around 70000 again.
However, this is not a situation that can be completed in the short term; it requires patience for the market to complete structural repair.
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Why is it difficult to go long right now?
Many friends will ask:
Why have we been emphasizing not to chase long positions blindly recently?
The reason is quite simple.
The global market liquidity is still under pressure.
The market's expectations for future policies have begun to change, and overall, risk assets are performing relatively weakly.
It’s not just Bitcoin.
The Nasdaq, gold, and other risk assets have also seen varying degrees of corrections recently.
Therefore, this is not an easy environment to go long in.
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Bear flag structure still needs vigilance
From a larger structural perspective.
Bitcoin has previously dropped from around 77000 to 59000, forming an obvious main decline.
This current sideways movement looks more like a forming bear flag.
If the bear flag is ultimately established later, then theoretically, there is still a possibility of further declines.
The target remains focused on:
Around 55000.
Of course, this is just a structural analysis and not confirmed yet.
The next few days will be an important stage to observe whether the bear flag truly forms.
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ETH: Pressure remains evident
The trend of Ethereum currently resembles that of Bitcoin.
First, watch for:
1700.
If 1700 cannot hold, the upward movement remains difficult.
Even if it breaks above 1700, there is still:
1780—1800 pressure area.
Only by continuously breaking through these positions can the market have a chance to re-enter a bullish rhythm.
Otherwise, it is still recommended to wait patiently.
The longer the sideways movement lasts, the greater the volatility when choosing a direction in the future.
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Gold: The trend remains bearish
The recent trend of gold basically aligns with prior judgments.
Since the highs, we have insisted on placing short positions at high points.
The overall target has remained consistent:
4200 → 4000.
Currently, the four-hour structure has broken through key support, indicating that the bearish trend has not ended.
As long as it does not regain key resistance, gold still has the possibility of continuing to operate toward lower lows.
From the chart perspective, gold still belongs to a bearish trend, and compared to the volatility in cryptocurrencies, the operational logic is clearer.
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Today's key focus
Today, there’s no need to rush to predict the market. Instead, wait patiently for the market to give an answer.
Focus on the following positions:
BTC:
If 62800 can stabilize again
If 62500 can form four-hour support
If 61800 will break again
If 61800 fails, then continue to look bearish
ETH:
If 1700 can stabilize again
If 1780—1800 pressure can be broken
Gold:
Still biased bearish
Watch the target around 4000
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In conclusion
The market never rises because of predictions, nor does it reverse because of emotions.
The true determinant of direction is always the price.
What we do is not guessing the market but going with the trend; not betting on direction, but waiting for the market's confirmation.
Boats move faster with the current, and people do not get lost when following the path.
I am Jin Zhechuan, and the above content is merely market analysis and candlestick learning, not constituting any investment advice.
When the market movement becomes clear, I will be the first to bring the latest analysis to you.
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