June 18 ETH Market Morning Report - Waller's Hawkish Stance, Can We Continue to Buy the Dip?

CN
2 hours ago

In the early morning, the newly appointed Chairman Waller completely removed all references to "easing bias" and forward guidance in the statement that suggested a rate cut, clearly stating, "I cannot tell you what the next step will be," marking a shift in the Federal Reserve's stance from "dovish wait-and-see" to "hawkish," with a quick market response. Bitcoin dropped sharply from around 66,400 to about 63,880 this morning, while Ethereum peaked at around 1,795 before falling to 1,724, perfectly executing the bearish strategy!

In our article last night, the current short position at 66,300 also reached the second target of 64,000 as expected, and the short position for Ethereum at 1,795 also hit the target. It is recommended that everyone reduce their positions in a timely manner and continue to hold. Today's strategy remains a bearish outlook.

On the daily chart, the 21/55/144-day moving averages are in a bearish arrangement, with the short-term 21-day moving average at about 66,500 acting as resistance. The current price has already fallen below the middle band of the Bollinger Bands, and the KDJ indicator is forming a bearish cross and spreading downwards. The MACD in the four small timeframes has also formed a bearish cross extending downwards, with red energy bars increasing below the zero axis. The larger cycle remains bearish, suggesting that rebound resistance levels should continue to focus on bearish layouts.

For Ethereum, resistance is around (1,788~1,800)~1,820, and targets to watch for support below are around 1,740~1,675~1,635, as well as 1,575~1,510.

Please focus on the above levels with light positions. If you can enter again, do so with light positions. If not, continue to hold yesterday's high short positions and look downward. Let's interact more, give a like or drop a comment to let me know we are in this together! We can adjust our strategies in a timely manner, and I wish everyone successful trading!

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