BTC may continue its downward trend

Jun 30

As the downward trend line I drew in the picture, BTC has not broken through this downward trend line in the past month. Every time it rebounds to the trend line, it starts to fall. If the price does not break the trend line, the downward trend will continue. Now the price rebounds to the trend line again, and aggressive investors can sell.

Trading suggestion: The price can be sold in the range of 61400-61800, with a target of 60000-60600.

The above trading suggestions are for reference only, and I will update the market analysis in my guidance group at any time

Jul 1

Comment

Yesterday's price directly broke through the downward trend line, and the upward momentum was very strong without encountering obvious resistance. From the big trend, BTC currently shows signs of bottoming out and rebounding. Next, we need to change the bearish thinking and trade with the idea of ​​oscillating rise or oscillation. Because BTC has been in a oscillating stage last week, from the 4-hour chart, the 61500-62300 range was the intensive trading area last week. If the price falls to this range, it may rebound.

Trading suggestion: If the price falls to the 61500-62300 range and encounters obvious resistance, you can buy long orders, with a target of 63000-63500

The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time