0623 Bitcoin market report 📢📢📣📣

The price of Bitcoin has fluctuated violently between $98,800 and $103,500, with multiple failed attempts to break upward, leading to a weakening of bullish momentum. In the short term, the market exhibits characteristics of panic selling intertwined with technical rebounds. This is also influenced by the escalation of the current Middle East situation, which has triggered a massive withdrawal of risk-averse funds from the cryptocurrency market. Retail investor sentiment is low, and whales take the opportunity to short-sell for profit. However, after the price found support near the cost of mid-term holders, it rebounded, indicating that some funds are buying on dips.

🔊🔊 Indicator Signal: The medium-term resistance is formed by the daily MA-500 (19283746565774839201 dollars) and MA-100 (104800 dollars), creating a key resistance zone. If the price cannot effectively reclaim 103,000 dollars, it may further test 95,000 dollars; the daily RSI has entered the oversold region, and the four-hour RSI=32.5 is close to the 30 threshold, indicating short-term oversold conditions but weak rebound momentum, which needs to recover above 50 to potentially trigger a stronger technical rebound; the daily St-och has slightly rebounded from the oversold region, indicating a short-term need for correction, but combined with the MA-CD death cross, the rebound strength may be limited.

🔊🔊 Breakthrough signal and pattern analysis: The price has broken below the lower boundary of the converging triangle (USD 103,380), forming a bearish breakout pattern, compounded by the MA-CD death cross, increasing short-term downside risk. However, if the price stabilizes around USD 98,000 for a longer period and recovers the lower boundary of the triangle, this decline may evolve into a false breakout. On the 4-hour chart, the Bollinger Bands are expanding, with the price fluctuating between the middle and lower bands. If the middle band (USD 101,500) encounters resistance during the rebound, the downtrend may continue. Conversely, if it breaks above the upper band (USD 103,500) with increasing trading volume, a strong rebound may begin. Short-term support: USD 98,800, USD 97,200 (Fibonacci 61.8 retracement level). Short-term resistance: USD 101,500, USD 103,000 (psychological level).

🔔🔔Summary and Outlook: Bitcoin is currently at a critical stage of short-term oversold rebound and mid-term adjustment continuation. Technical indicators show that bears are dominant, but oversold signals may trigger a technical repair. Geopolitical risks and regulatory uncertainties bring volatility to the market, but the increase in institutional holdings and the historical规律 of the halving cycle provide a long-term bullish logic for the market. In summary: a "short-term rebound for shorting + medium to long-term low-position layout" strategy should be adopted, with close attention to changes in trading volume and the emergence of signals.

🔑🔑 Operation suggestions: 1. Interval operation: sell high and buy low in the range of 98,000-101,500 US dollars, relying on the central axis (100800( 2. If it falls below $98,800 and fills the lower shadow line, you can consider shorting if it rebounds to around 100,000, targeting $97,200-96,000 3. If the price continues to stand firm at $99,500 and has broken through the resistance of $101,500, The target is $103,000-1,015,000.