6.21 Morning Market Outlook

Good morning! Happy holidays! After pre-judging a rebound above 67,000 last week, it was clear that the 18th marked a turning point in the market and a shift to a bearish trend, which has gradually been realized. The market started to decline on the 18th, consolidated sideways all day on the 19th to digest the move, and is now experiencing a short-term rebound correction.

Currently around 64,200, this rebound is only a pause and correction within the ongoing downtrend. Each rebound is a good opportunity to buy low, and the overall downward trend has not changed. After the rebound faces resistance, the bearish momentum will continue, so avoid blindly chasing longs or bottom-fishing.

Regarding operations:
A short-term rebound reaching the resistance zone of 65,200-65,700 can be lightly followed with a short position. The initial target is to watch the support at 63,320, and if broken, the trend will continue toward the previous $BTC low of 62,240.