In-depth analysis of the Bitcoin market in the afternoon of June 29

I. Market Overview

At the weekend node, the Bitcoin market showed a fierce game between long and short parties. Yesterday, the price of Bitcoin once surged, but then fell back, showing the instability of the market. Despite the pressure of the 62,500 area, Bitcoin stopped falling at the 60,000 mark in the early hours of the morning, showing a certain support strength. Overall, the market recovery strength is slightly weak, but the short-term pull of long and short parties is basically in line with expectations, providing investors with a wealth of game space.

II. Technical Analysis

From the four-hour structure, the price of Bitcoin remains in a relatively stable range. The strength of both long and short parties is balanced, and it has fallen back after touching the 62,500 line many times, showing that the market has strong bullish expectations, but there is also a certain pressure. It is worth noting that the MACD indicator did not continue to increase in volume below the 0 axis, but instead showed a situation of red column volume upward, which further exacerbated the expectation of long recovery space.

Operation suggestion

Big cake: It is still better to pull back to around 60000~60400, with a target of 61500. If it breaks through the target point, you can consider shorting, defending 500 points, and the aunt will synchronize the defense to give 30-35 points.