June 13 Price Trend Analysis: Bitcoin surged then pulled back. Retrace to continue with the low-buying long idea—don’t miss the move again.


This week's weekly golden cross has already started, and the bulls are looking to enter the market.
Getting in might be the best bottom-fishing trend.
The retracement-and-buy-long strategy from the day before yesterday already paid off; don’t miss the move again. Keep the retracement-and-buy-long approach unchanged. Bitcoin’s daily chart has held above the short-term moving average system. After the MACD golden cross, the red momentum keeps expanding, and the Bollinger Bands shift from a tight squeeze to a slight opening. Price is trading above the middle band, breaking away from the weak one-sided downtrend pattern from earlier. However, the upper Bollinger Band near 73156 and the prior dense supply/position zone at 75000-76000 carry heavier sell pressure. Also, the EMA120 moving average is still sloping downward; the medium- to long-term downtrend has not been fully reversed. Any rebound needs to break through key resistance levels to open up room for upside.

Ethereum’s daily chart forms the early pattern of a short-term upward alignment. After the MACD golden cross, it continues rising; the red histogram grows noticeably, and bullish momentum is being released. The middle Bollinger Band has shifted from acting as resistance to acting as support, with price trading above the middle band. Overall, it has moved from a downtrend into a choppy rebound channel. But there is resistance near 2258 around the upper Bollinger Band, and the EMA120 moving average is still sloping downward; the medium- to long-term downtrend has not been fully turned around. A rebound needs to break above 2300 to confirm continuation.

Trading Suggestions:
BTC 70300-70800 long, target 73500 -75000, stop loss 69500
ETH 2190--2170 long; add to positions at 2140; target 2350- 2500; stop loss 2100
BTC0.83%
ETH1.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin