6.12 Thursday Evening Bitcoin/Ethereum Market 哆

The honey market continues its correction trend today. From a weekly perspective, after a series of consecutive bullish candles, this week has formed a long-bodied doji pattern. The market momentum is temporarily in a stalemate, and the direction of the subsequent trend needs further confirmation.
Switching to the daily perspective, looking back at the previous bull market, corrections often presented a fragmented bearish pattern; however, this time, the market has shown a continuous bearish trend, and the depth of the second downturn after the rebound is significant. Various signs indicate that the market has officially entered an adjustment phase. Although there has been some support in the small cycle leading to a rebound, the strength of the rebound is weak, and the previously strong and slow upward pace has been disrupted.
The 4-hour chart clearly shows the short-term downward trend: the candlestick body is relatively long and the lower shadow is short, intuitively reflecting that the bears are dominant, and market selling pressure is significant. The Bollinger Bands are continuously expanding downwards, indicating that market volatility is intensifying, and the downward momentum has not yet been fully released; the strength of the bears remains strong in the short term.
In terms of technical indicators, the KDJ indicator has entered the oversold zone, but the D value is currently hovering around 30 and has not yet reached the bottom, suggesting a demand for short-term rebound and correction in the market. However, to confirm a trend reversal, we still need to wait for the KDJ indicator to form a golden cross.
Based on the above analysis, the operation suggestion for tonight is to adjust the Silk Road, looking for suitable trading opportunities during market rebounds, while closely monitoring changes in technical indicators and fluctuations in market sentiment.
Operation Suggestions:
Big Cake: 106800-107000, looking at around 108000.
Two cakes: 2710-2720, look around 2760
#BTC #ETH