Hello everyone, I am Jin Zhechuan.
Today is June 17, 2026.
Yesterday, the market exhibited a pattern of rising and then falling back. Bitcoin reached a maximum near 66,900, just a step away from the 67,000 mark, but ultimately failed to break through effectively. It then faced pressure in the key resistance area and dipped to around 65,500.
Regarding this pullback, I had already made predictions in yesterday's article and Weibo. I have emphasized repeatedly that as long as 65,500 is not effectively broken below, the entire upward structure remains intact, and the trend has not changed.
Therefore, after the pullback near 65,500, we were quick to initiate long positions.
At 10:43, an announcement was made across the network:
Go long on BTC near 65,500;
Go long on ETH near 1,770.
Looking at the current situation, the overall strategy remains valid.
From the market performance, there hasn't been a notable panic sell-off; rather, the market is continuously digesting the overhead pressure, preparing for future directional choices.
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Tonight brings the biggest variable of the week
What truly affects the market direction is not the daytime oscillations but two major events to be announced tonight:
1. Federal Reserve interest rate decision (2 AM)
2. Federal Reserve policy press conference
The market in the next 48 hours will largely revolve around these two pieces of news.
The biggest divide in the market is not whether to maintain interest rates, but the subsequent policy signals that will be released—whether they are hawkish or dovish.
If they continue to emphasize that high rates will be maintained longer, risk assets might come under pressure in the short term;
If they signal future interest rate cuts, it could further stimulate market risk appetite.
Thus, tonight's data is worth all investors' close attention.
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The technical analysis still maintains a bullish structure
From the 4-hour perspective, prices are still operating within an upward structure.
Although there is resistance from the earlier descending channel above, the market has repeatedly tested the resistance area without exhibiting a clear breakdown.
This kind of movement often signifies:
That bearish forces are gradually fading, while bullish momentum is accumulating for a breakout.
The market is consolidating at the top.
Consolidating at the top is not terrifying; what is scary is breaking through crucial support.
Currently, 65,500 remains firmly supported.
Therefore, the upward trend has not been disrupted for now.
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The daily double bottom structure is gradually forming
Next, looking at the daily level.
The crocodile indicator is beginning to show signs of turning, and several moving averages are gradually converging.
From the overall pattern, the market is closer to the process of forming a double bottom structure.
To simplify, it means:
Testing the bottom—rebounding—second bottom test—rally again.
This rhythm is currently quite evident in both Bitcoin and Ethereum.
Especially in Ethereum.
Since rebounding from around 1,770, it has risen over 20 points, showing a significantly stronger performance compared to the overall market.
If market risk appetite continues to rise, Ethereum is expected to become one of the focal points for capital.
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US stocks and Bitcoin showing divergence signals
Yesterday, there was another detail worth noting.
After the US stock market opened, it rose initially then fell, with overall market sentiment being bearish.
However, Bitcoin did not weaken in tandem.
When the US stocks rose, Bitcoin reacted mildly;
When the US stocks fell, Bitcoin also did not drop.
This divergence often signifies:
That independent capital is beginning to emerge within the market, with bullish momentum gradually accumulating.
While this cannot be solely relied upon as a basis for going long, it at least indicates that the current bearish sentiment is not as dominant as before.
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Gold still maintains a bearish view at high levels
Regarding gold.
Currently, I still maintain the previous viewpoint unchanged.
Continue holding short positions near 4,360.
After peaking near 4,370 yesterday, it fell back again, still in the high-level consolidation phase.
In the short term, pressure remains above.
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Today's operational thoughts
BTC:
Continue holding long positions at 65,500; consider adding to positions near 65,000; pay close attention to the breakthrough situation at 67,000 resistance level.
ETH:
Continue holding long positions near 1,770; focus on the stability at the 1,800 level.
Gold:
Continue holding short positions near 4,360; waiting for confirmation of high-level pullbacks.
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Conclusion
The hardest part of the market has never been to see the correct direction.
But rather, to adhere to one’s own logic before the news is released.
Currently, the technical aspect has not disrupted the upward structure, and there are no significant signs of capital flight.
Therefore, before the data is released, I still choose to respect the trend and continue holding long positions.
If tonight's news proves to be unexpectedly negative, we can adjust our direction accordingly.
Trading is not about predicting the future, but following the market.
If the direction is wrong, adjust promptly; if the direction is correct, hold firmly.
Tonight, pay close attention to the Federal Reserve.
The real market movement may just be beginning.
I am Jin Zhechuan.
Follow me for insights through the noise and see the direction clearly.
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