Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: June 17, 14:08 Beijing time
Market Information
- A new survey of former Federal Reserve insiders shows a moderate and conservative outlook on interest rates;
- JPMorgan: The proportion of U.S. listed Bitcoin mining companies in the total network hash rate reached a historic high in June;
- Donald Trump's Truth Social documents for Bitcoin and Ethereum dual ETFs;
- Brazilian congressmen propose an amendment to prevent taxation on cryptocurrencies;
- Pacific Securities: The future development potential of digital currencies is enormous, with investment opportunities for upstream, midstream, and downstream companies;
- ANZ Bank: Powell may continue to maintain a patient wait-and-see approach;
Market Review
After the previous decline, Bitcoin's rebound peak is currently at 108,900, and Ethereum's rebound peak is at 2,680. The trend is basically in line with expectations. Congratulations to friends who followed along and made a small profit;
Market Analysis
Bitcoin:
From the 4-hour chart, the pressure for Bitcoin's rebound is around 109,000. After reaching this area, the rebound did not continue, and a large bearish candle formed directly on the 4-hour chart, indicating significant short-term pressure. For the pressure to be effective, a pullback is needed. The short-term support range for the pullback is between 105,000 and 104,000. After reaching this area, you can consider going long based on the trend. Currently, there is still a potential drop of 2,000-3,000 points. You can manage your entry, with a stop loss near the previous high of 108,900, and a target of 105,000-104,000. After reaching this target, if a long lower shadow appears, you can consider going long. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
Ethereum:
From the 4-hour chart, Ethereum's rebound strength is relatively weak, failing to reach the pressure range of 2,700-2,750, and subsequently following Bitcoin into a decline. The current trend is still operating within a consolidation range. Pay attention to the support around 2,430 below Ethereum. After reaching this level, if a long lower shadow appears, you can consider short-term longs. Currently, you can take a light short position, with a good stop loss, targeting the range of 2,450-2,400. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin and Ethereum are near short-term pressure levels and need to pull back before rebounding;
The article is time-sensitive, be aware of risks. The above is only personal advice and for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.
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