Last night, the market continued to drop, with a rebound starting at 58400, and it has now recovered to around 61500. The phase of decline has ended, and the market is about to start rebounding! Ethereum did not follow the decline of Bitcoin last night and was the first to rebound, recovering the platform of 3355 that was broken yesterday.
The US dollar index fell under pressure at 105.9 and is still oscillating within the daily triangle structure. The greed and fear index dropped by 40% in one day, indicating a relatively panicked market sentiment.
On 24/06/07, the European Central Bank cut interest rates for the first time in five years. Bitcoin was rejected multiple times at 72000, and there are things to watch out for in the short term!
On 24/06/11, JPMorgan shorted gold futures worth trillions of dollars, the US dollar index continued to act strangely, how will the crypto market respond?
On 24/06/12, there is a potential "M" pattern at the weekly level, spot positions should be reduced on rallies, and beware of a repeat of the 519 market crash!
On 24/6/13, Bitcoin staged a long and short battle, and there may be a risk of a thunderstorm for CRV. The downtrend has not changed.
On 24/06/14, under strong pressure, it was rejected, with a double negative and positive candlestick on the daily chart, and a crash is imminent!
Bitcoin
After rebounding from 58400 to 61500, a rebound of 3000 points, this phase of decline has seen a drop of more than 13000 points, a decrease of 18.85%, which is not small for the short-term decline of Bitcoin. Previously, the first bottom fishing opportunity was mentioned at 59600-62000, the second at 55000-56552, and the third at 43000-45000 (in extreme cases), so patience is required.
The short-term decline has basically tested the first and second bottom fishing areas. When the previous drop reached 56552, we bottom-fished at 57000. Now, it is once again emphasized that this phase of decline has ended, and the market is about to start rebounding. The specific rebound height is limited. Welcome to join the internal group to discuss where the rebound will go.
Support:
Resistance:
Ethereum
Yesterday, after reaching 3240 during the day, there was no further decline in the evening. Currently, it has rebounded to the bottom of 3355 from yesterday. It was also mentioned yesterday that 3000-3100 is a strong support and should not be broken. Breaking it would lead to an extreme market situation. Ethereum's rebound is also stronger than Bitcoin's. The AI sector led the rebound with FET, AGIX, ARKM, etc.
The ETH/BTC exchange rate has once again touched the downward channel, and the probability of breaking through is increasing. It remains to be seen whether the altcoin season will come, but it is still recommended to play strong altcoins.
Support:
Resistance:
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The article is time-sensitive and is for reference only, with real-time updates.
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