6.22-Morning Big Cookie｜Yin Jun V
Yesterday, the big coin staged a classic inverted V reversal. It surged to the 645 area in the early hours but faced heavy selling pressure, causing a sharp drop that broke through the 642 and 640 levels, hitting a low of 632. With a bearish sentiment in the market, the 635 target was easily breached, posing a threat to the psychological 630 level. However, strong buying interest emerged around that level, and after multiple failed attempts by the bears, the momentum waned, leading to a rapid V reversal that captured liquidity from stop-loss orders below 632. This morning, the bulls launched a counterattack. After the 15-minute Bollinger Bands tightened, they opened upwards, and the MACD bullish momentum bars extended, forming a short-term golden cross. The Asian session continued strong, reclaiming 635 and pushing up to the 643 area, which corresponds to the 0.382-0.5 Fibonacci retracement level of yesterday's drop, indicating clear supply pressure. During the session, 643 faced resistance and slightly retreated, consolidating in the 636-639 range, with buyers repeatedly accumulating. The 635 level completed a top-bottom conversion. Currently, the 15-minute structure is evolving into a rising flag pattern, and the market is engaging in chip battles within the 630-645 range, waiting for a small volume breakout to confirm the direction.
Trading Suggestions:
Short-term target: 648-650 breakout looking for 200 points
If unable to push higher, a small consolidation phase may occur
After the rebound, consider going short with a target of 630
#BTC☀ $BTC
Yesterday, the big coin staged a classic inverted V reversal. It surged to the 645 area in the early hours but faced heavy selling pressure, causing a sharp drop that broke through the 642 and 640 levels, hitting a low of 632. With a bearish sentiment in the market, the 635 target was easily breached, posing a threat to the psychological 630 level. However, strong buying interest emerged around that level, and after multiple failed attempts by the bears, the momentum waned, leading to a rapid V reversal that captured liquidity from stop-loss orders below 632. This morning, the bulls launched a counterattack. After the 15-minute Bollinger Bands tightened, they opened upwards, and the MACD bullish momentum bars extended, forming a short-term golden cross. The Asian session continued strong, reclaiming 635 and pushing up to the 643 area, which corresponds to the 0.382-0.5 Fibonacci retracement level of yesterday's drop, indicating clear supply pressure. During the session, 643 faced resistance and slightly retreated, consolidating in the 636-639 range, with buyers repeatedly accumulating. The 635 level completed a top-bottom conversion. Currently, the 15-minute structure is evolving into a rising flag pattern, and the market is engaging in chip battles within the 630-645 range, waiting for a small volume breakout to confirm the direction.
Trading Suggestions:
Short-term target: 648-650 breakout looking for 200 points
If unable to push higher, a small consolidation phase may occur
After the rebound, consider going short with a target of 630
#BTC☀ $BTC