$BTC 6.15 Bitcoin Market Analysis
Bitcoin pulled back sharply to the trend line near 65,000 last night. There are two possibilities for Bitcoin's small midline: one is to break through and rise after forming a head and shoulders bottom pattern; the other is to rise after forming a double bottom structure.
Currently, it is more inclined to the head and shoulders bottom pattern, because the shock from 72,000 lasted for 25 days, and all wave structures are in an adjustment state, and there is no clear downward trend structure. Therefore, the rise after wide shocks is currently optimistic.
In the current situation, there are two suggestions for opening orders: one is to continue to go long near 66,000, and the stop loss is set at 64,700; the other is to wait for the trend line to break through before going long. The trend line is around 68,200, and the stop loss is also 64,700. The stop loss point for going long directly is 1.5%, and the stop loss point after breaking the trend line is 5%.
