Waves in the Cryptocurrency Sea: June 17 Bitcoin (BTC) Market Analysis Reference: The current price of Bitcoin is 65000, after a round of rebound and repair, the upward momentum has diminished at the daily level, and the price is under pressure at the middle track position of the Bollinger Bands. The EMA medium and long-term moving averages maintain a bearish arrangement, continuously exerting upward pressure on the market. The short-term EMA7 currently provides weak support, and the MACD indicator's fast and slow lines maintain a golden cross below the zero axis. Although bull strength has not completely faded, the KDJ indicator is turning downwards, and the RSI indicator is simultaneously retreating, indicating divergence in indicators and weakening bullish signals. The continuity of the daily rebound phase is questionable, and there is a higher probability of pressure to weaken further and retest adjustments.

The short cycle four-hour price level has been under continuous pressure and retreated from the high point of 67200, breaking below the middle track of the Bollinger Bands, and the short-term moving averages are turning downwards, forming layers of pressure. The MACD indicator's DIF is running below the DEA, with bearish pillars continuing to enlarge, enhancing bear strength. The KDJ indicator is continuously declining, and the RSI indicator is also moving lower, with no signs of stabilization temporarily. The short-term bearish sentiment continues to ferment, making it highly probable for the price to maintain a weak trend, with a possibility of further probing downwards for support, and it is recommended to mainly focus on short positions.

Waves in the Cryptocurrency Sea: June 17 Short-term Bitcoin Reference:

Long positions: Buy in the range of 62900-63900, stop loss below 62000, target at 64500-65500,

Short positions: Sell in the range of 66500-65600, stop loss above 67000, target at 64500-63500,

[The above analysis and strategies are for reference only. Risks are for you to bear. The article review and release may have delays, and the strategies do not possess timeliness. Please do not operate blindly.]

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