Coin Circle Li Ying: 6.10 Bitcoin (BTC) Latest Market Interpretation and Trading Advice

　Dear family, the current price of Bitcoin is 61150. From the chart, that previous wave of decline was like sliding down a slide, falling all the way down, and it was difficult to breathe and rebound around 59130. But don’t celebrate too early; this rebound seems a bit weak, as the trading volume hasn’t followed up. It feels like the main force is tentatively pushing up. If there’s no new capital coming in afterward, it might hit the bottom again at any time. We all know in the cryptocurrency world, until the trend reverses, we have to be cautious with bottom fishing; we shouldn’t dive in headfirst to become the one stuck holding the bag. Now the market is fiercely contested between bulls and bears, and we need to break down and examine technical indicators carefully to grasp the rhythm firmly. Next, let’s break down the key signals together!

　The EMA7, EMA30, and EMA120 moving average systems are all in a bearish arrangement, with the short-term lines pressed below the long-term lines, indicating that the short-term downward momentum has not been fully released, and there is a lot of locked positions above creating pressure. In the MACD indicator, both DIF and DEA are below the zero axis. Although the red and green bars have shrunk, overall it’s still bearish, meaning the bullish strength is lamentably weak, and a reversal won’t be easy. In terms of the Bollinger Bands, the price is hovering between the middle and lower bands, with the lower band at 61897 acting as short-term support, but the upper band at 64269 is far away, compressing the rebound space severely. In summary, technically the bears still have the upper hand. Li Ying judges that the rebound is likely just a temporary flicker, and we need to closely monitor the breakthrough of key levels before making judgments!

　Short-term reference:

　For a long position at 60000-59500, exit if it falls below 59000, target above 61500 aiming for 62500.

　For a short position at 62500-63000, exit if it loses 63500, target below 61500 aiming for 60500.

　The above content is exclusively created by Li Ying. Please indicate the source when reprinting! There may be delays in article review and the market is ever-changing. The above advice is for reference only, and risks are to be borne by you. I hope Li Ying's appearance will be helpful to you!

　The content of this article is real-time and for reference only; risks are to be borne by you.

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