June 26, 2024 - Bitcoin Trend Analysis

Bitcoin fell to 58,400 the day before yesterday and then rebounded. From the 1D chart, we can see that the current major support is around 59,500, while the resistance is in the range of 63,000-63,150. Although it has rebounded, the trend is still relatively weak. The current trend is a triangular wedge trend with lower and lower highs and low support around 59,500. The 1D MACD fast and slow lines are both below the 0 axis, and the trend is bearish. The 4H MACD has a golden cross, and the 4H MACD also has a positive energy column. Last night, Grayscale sold 2,100 bitcoins, Fidelity and Ark sold 1,582; however, BITO bought 3,098, BITB bought 245; and BlackRock did not move yesterday. If these two companies had not purchased about 3,300 bitcoins, yesterday would probably have been a big drop. The current selling pressure is still there, the RSI is only 34.17, and the panic greed index is 46 (panic). It is time to buy spot goods. You can buy some at this price. For contracts, it is currently in a period of volatility and the trend is bearish. It is recommended to wait and see. If you really want to make an order, it is recommended to short at a high point. The point is around 63100. For a clear version of the contract opening order, stop profit and stop loss points, you can consider becoming a VIP. In the VIP group, we provide a complete version of the operation method.

For reference only, investment is risky, and you need to be cautious when entering the market