Gate.io Quotes: BTC rally blocked and falling, market may retrace further afterwards

According to Gate.io global trading data, as of 11:50 on June 24, BTC spot was quoted at $32552.64, ushering in a negative slide after two consecutive daily suns, now basically falling back to yesterday’s rise, the market is still dominated by the air force, and the possibility of continued retracement cannot be ruled out in the near future. And from the 1-hour look at the chart, the K line in the morning after retracing the BOLL belt below the lower rail line, the short time to get support to start rebounding, but the MACD indicator double line still continues to run downward divergence, and the fast line has penetrated the zero axis line, indicating that the short-side forces are still relatively strong, the short-term rebound range will be more limited, and KDJ in the morning after the low dead fork indicators turn, the state is relatively flat, the market may need more consolidation time to Digest this phase of the retracement of the market, and then make the direction. Overall, although the intra-day trend is more downward probability, but if there is no more negative news entry, the magnitude or can be better controlled, the probability of falling below the $ 31,000 support line is not large. Pay attention to the fundamental news, a few days ago, the Brazilian stock exchange listed Latin America’s first bitcoin ETF, which means that the door to the Brazilian market officially opened, can provide the market with more capital flow, in the long and short term are positive, but in view of its current market share, the market boosting effect is limited, the recent volatility, operation please pay attention to control the risk.
Gate.io spot quotes (up or down based on 24-hour system): BTC: $32,552.64 (-4.02%); ETH: $1891.61 (-5.62%); DOGE: $0.2279 (+9.07%); DOT: $15.14 (-7.01%); GT: $3.011 (+2.04%) ; XRP: $0.6306 (+4.47%).

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