News

On June 18, Federal Reserve's Barkin: It may be reasonable to cut interest rates once and then maintain the interest rate unchanged.

On June 18, Web3 payment infrastructure Transak launched a channel for legal currency to cryptocurrency for PayPal USD, aiming to popularize digital asset payments.

21Shares has hired Federico Brokate to lead its US ETF business. Federico Brokate previously served as the head of iShares Americas and played an important role in bringing $IBIT and $ETHA to the market.

Market Review

It was mentioned last night that as long as the price of Bitcoin does not break near 67500, there is no danger. Although the evening market was extremely short-squeezed and rebounded to the 67200 level at one point, it all retreated in the early trading today without breaking a new low. At the same time, Ethereum was resisted near the resistance and pulled back. The current price has fallen to 3396 and is still holding, so the target can continue to be observed. There is already a basic profit of two hundred points. It meets the expectations mentioned yesterday.

Market Analysis

BTC

From the daily chart, it can be seen that it has fallen below the MA120 bull-bear watershed indicator and broken the trend line that has continued from 38000, with a double break, indicating a very strong bearish trend. This is also the first time it has fallen below the level since the top of 73800, and the previous two times it quickly recovered within 24 hours after testing nearby. Similarly, if it cannot be successfully recovered within 24 hours this time, it is expected that this three-month oscillation will end downward. It's not surprising to hit around 58/55. In the short term, it can still go short once it rebounds. The important resistance above is at 66000-66200. Aggressive attempts can be made near 65600, and 66500 can be used as a short defense line, while the support below is at 63300 and near 60650. As for Ethereum, it is synchronized with Bitcoin. The support below is around 3128/3038, and the resistance above is at 3464/3507 and 3531, with 3571 nearby as a defensive line.

Summary: Pay close attention to the opening price tomorrow. If the opening price is lower than the MA120 average, there may be an accelerated market. Do not attempt long positions without support.

Be cautious when entering the market, as there are risks involved.

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