Crypto Circle Academician: On 6.20, Bitcoin has been repeatedly tugging back and forth in the 63,000 range; after reading the daily + four-hour charts, you’ll see where things are headed! Latest market analysis and trading suggestions

Bitcoin is currently trading at 63,000. At the end of the day, the essence of trading is to return to real life. Over the past two days, many fellow coin traders have asked whether the market is heading south or north. If I could accurately predict it, I would have achieved financial freedom long ago. As far as this market is concerned, to put it plainly, the main force is harvesting retail traders’ emotions. You buy and it drops; you sell and it rises. It’s not that you’re unlucky—it’s just that you happened to step into their rhythm. Instead of staring at the charts every day in anxiety, you might as well do what you should do. Keep your position lighter—don’t let all of your life get tied up in it. After all, it’s not easy to have a holiday; spending quality time with your family is the right thing to do.

The daily (K-line) is in a weak rebound phase after an earlier decline. The price has stabilized above the 100% Fibonacci support level at 59,080. However, it is being suppressed by the 78.6% pressure level at 73,445. In the short term, it is still running below all EMA moving averages, and the downtrend has not been fundamentally reversed. The MACD indicator’s DIF and DEA remain below the zero axis. Although the green histogram has shrunk, it has not formed an effective golden cross, so rebound momentum is insufficient. The Bollinger Bands are opening downward, and the price is moving near the lower band. The strong resistance around the midline near 67,000 is also in play. Overall, it is in a weak consolidation range following the decline, and there is no clear reversal signal yet.

After the four-hour (K-line) touched the low at 59,080, it saw a small rebound. It is currently suppressed by the 23.6% Fibonacci pressure level at 64,684, and it has failed to break through the 64,000 level. The EMA15 and EMA30 moving averages have formed a death cross pointing downward. The price has broken below short-term moving-average support, and rebound momentum is gradually fading. After the MACD indicator’s DIF and DEA formed a death cross below the zero axis, they turned back downward again. The green histogram has expanded, meaning the southbound force has increased somewhat. The Bollinger Bands are in a contracting state. The price has broken below the midline. Support on the lower side is around 61,680. In the short term, it will most likely continue to trade in a range and oscillate between 61,680-64680. If the price breaks below the range’s lower boundary, it will trigger a second round of bottom-seeking.

Short-term trading idea as a reference: Follow the trend of the big cycle; cut losses quickly, and enter and exit fast.

Going north from 61500 to 62000: stop-loss at 61000; targets 63000 to 64000.

Going south from 64500 to 65000: stop-loss at 65500; targets 63500 to 62500.

For specific execution, rely mainly on real-time order book data. For more information, please refer to the author. There may be delays in the publication of the article; the suggestions are for reference only—risk is your own responsibility.