Coin Circle Liying: 6.20 Bitcoin (BTC) Latest Market Interpretation and Operation Suggestions

　　Dear family, the current price of Bitcoin is 63,200. From the recent trend, it surged to over 67,000 and has since retraced. Now the downtrend seems to be slowing down. However, don't rush to catch the bottom; we need to see what the technical indicators say. First, let's look at the moving averages. The short-term EMA7 and EMA30 are above the price, indicating that the short-term is still dominated by bears; the MACD's rebound strength is questionable; the middle line of the Bollinger Band is also overhead, with the price swinging between the middle and lower bands, compressing the volatility space. Overall, it is a range movement with pressure above and support below; if you want to enter the market, wait for clear signals.

　　In terms of technical analysis, EMA120 in the moving average system is a key mid-term resistance; it is hard to see a significant trend before the price stabilizes above it; both the DIF and DEA of the MACD are in the negative zone. Although the green bars are narrowing, a golden cross has not formed, indicating insufficient bullish momentum; the upper and lower Bollinger Bands are narrowing, with the middle line at 63,298 becoming a short-term watershed. A breakout may lead to upward testing, while a drop below could touch the lower band at 61,862. In terms of trading volume, recent reductions are apparent, indicating a decrease in bullish-bearish divergence and that the turning point is approaching. Liying comprehensively views this as a weak recovery after a decline; we need to wait for a signal of indicator resonance before taking action.

　　Short-term reference:

　　Establish a long position at 62,500-62,000, exit if it breaks below 61,500, target above 63,000 aiming for 64,000

　　Establish a short position at 64,000-64,500, exit if it fails to hold above 65,000, target below 63,500 aiming for 63,000

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　　The article's content is timely, for reference only, and at your own risk.

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