Monday, June 24, 2024

Market Analysis: BTC

1. Daily: Falling below the 60-day moving average (mid-term lifeline) and the 120-day moving average (mid- and long-term lifeline), there is no major positive news, and the market will continue for about 1 month.

2. MACD: Daily and 4-hour operation below the zero axis, short market. The 4-hour MACD continues to diverge from the bottom, indicating that the downward momentum is weakening, but the upward momentum is also weakening without signs of strengthening.

3. The highs and lows since 71997 have been continuously decreasing, and are in a downward trend. There is no sign of reversal at present.

[Prediction] The decline has not ended. The unemployment benefits and PCE data on Thursday and Friday this week may be beneficial to the rebound and short squeeze. The probability of falling below 62,500 (61.8% increase in this round) before the data is released is small.

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