BTC June monthly line closed! Monthly line broken! Is the rebound real or fake??

The June monthly line closed with a bearish solid candle, closing at 58358, which has broken below the monthly Bollinger Band lower rail (61106), hovering just below it. The holding cost continues to move downward, and the bearish structure is firmly set.

The most critical defense zone right now is 58000–58500, which is the key support band for this decline. If it is effectively broken, it may trigger a chain of stop-loss orders, and the next target would be the integer level of 55000.

As for a rebound, the first resistance is at 60000–60500, where there are many trapped positions. Further up, 61500–62000 has even greater pressure. The most significant mid-term suppression is the daily MA60 (around 68000). Before a volume-supported break above it, all rebounds can only be considered as pulse corrections after negative divergence widens, so don't expect a trend reversal.

On the monthly level, the KDJ has been dull at low levels, and the RSI has fallen into a weak dispersion zone. There is no new volume coming in, only sporadic short-term covering funds are stirring. The monthly MA60 (corresponding to 40000–45000) is a long-term bottom support reference area, but the mid-term decline inertia hasn't been fully digested yet. On a rebound upward, it will encounter multiple moving averages pressing layer by layer. Regarding operations next, you must closely watch those key price levels to see if the structure can stabilize. When trading, risk control must be front-loaded. Be careful that after the rebound, there could be a second bottom test. Also, keep an eye on macro news and order book flows simultaneously to comprehensively judge the overall direction.

Wish everyone a smooth trading in July! Good night!!

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