0620 Bitcoin market report 📣📣📢📢

The Bitcoin price is fluctuating narrowly in the range of 103800-105200 USD, with the short-term market showing characteristics of a tug-of-war between bulls and bears: the daily chart shows that after the price reached a historical high of 111900 USD on May 22, it has entered a correction phase, currently in a key consolidation range of 103000 to 107000 USD. If the price falls below 103000 USD, it may test the fair value gap (F VG) area between 100000 and 97000 USD, which constitutes the cost area for mid-term holders (98000 USD) and serves as an important support line. Conversely, if it breaks through 107000 USD, it is expected to restart the upward trend and test the high point of 111900 USD.

🔊🔊 Indicator signal: The short-term moving average E-MA 7(105100$) and E-MA ($104,000) form a golden cross, but the price fails to effectively stand above E-MA 7, indicating that the short-term uptrend is blocked, and if the price pulls back to E-MA In the medium and long term, the gap between the 50-day moving average and the 200-day moving average is too large, confirming the medium-term bullish trend, but it is necessary to be wary of the historical law: the main rising wave is often accompanied by a pullback of about 10% before occurring, which may be to prevent the risk of a medium-term pullback.

🔊🔊Key patterns and support and resistance: The daily chart shows a震荡结构 after breaking out of an ascending channel, while the 4-hour chart indicates that the price is forming a symmetrical triangle consolidation pattern in the range of 103,000 to 107,000 USD. The breakout direction will determine the short-term trend; a breakout above 107,000 USD or a drop below 103,000 USD could trigger a unilateral market trend. Of course, if the price continues to consolidate, attention should be paid to the opportunity for volatility expansion after the contraction of the Bollinger Bands. Short-term support: (1) 103800 (2) 101800; Short-term resistance: (1) 105200 (2) 106700 (3) 107600.

🔔🔔Summary: In summary, Bitcoin is currently in a critical technical position competition phase, with a high probability of short-term fluctuations. The medium-term trend depends on the breakout direction of the resistance and support at 10.3 or 10.7, so it is necessary to adjust strategies in a timely manner based on technical aspects and on-chain data dynamics, prioritizing risk control first.

🔑🔑Operation Advice: Short-term range trading: (1) High sell and low buy within the range of $10.3-$10.5, relying on E-MA 30(10.4 million and Fibonacci (10.48, 10.57) for profit taking. (2) Bullish: Stabilize above 10.4 and break through the resistance at 10.5, target 10.6-10.7, stop loss below 10.3. (3) Bearish: Break below 10.3 and fill the lower shadow, consider shorting near 10.4, target 1: 10.1 or extend further below 100,000.