6.7 Sunday midday Bitcoin and Ethereum market analysis and trading suggestions

Reviewing the market after a continuous decline, it experienced a weak rebound. Yesterday, Bitcoin dipped below 59,080 in the early morning to a new low, then started a technical rally up to around 61,985, followed by a pullback and consolidation. Today, it consolidates around 61,500, with Ethereum rebounding in sync, rising from the 1,503 low to about 1,590, also approaching resistance zones. Overall, during the rebound, trading volume shrank, the candlestick bodies were small, typical of a technical correction after an oversold condition, and the bearish trend has not changed. Currently, the candlesticks are approaching a key resistance level, with obvious lack of upward momentum.
Yesterday, the core strategy remained bearish throughout, with Zhilan executing phased short positions, gaining a total of 2,368 points on Bitcoin shorts and 122 points on Ethereum shorts, all successfully reaching take-profit levels.

After the weekend rebound correction, the market has touched a key resistance zone, with upward momentum clearly weakening. On the four-hour chart, the rebound shows weakness upon reaching below the middle band of the Bollinger Bands, which is the first strong resistance area after a previous breakdown. On the hourly chart, after rebounding near 62,000, candlesticks show upper shadows, indicating insufficient bullish push and lack of enthusiasm for chasing gains. This rebound is a typical oversold rally, aimed at repairing severely deviated short-term indicators and accumulating energy for the next decline.
Bitcoin’s short-term key resistance zone is at the hourly upper band and the lower boundary of the previous consolidation platform, between 62,000 and 62,500. Candlesticks need to break through these resistances with continuous volume to reverse the short-term downtrend, which currently seems unlikely. Ethereum’s trend is slightly weaker; it failed to effectively touch the four-hour middle band, and there is a cluster of trapped orders in the 1,650-1,680 area, forming a natural high-pressure zone. The rebound volume has shrunk significantly, indicating a no-volume rebound, with doubts about its sustainability. Expect probable sideways movement or further dips during midday to evening.
Trading-wise, maintain a high short position strategy.
Bitcoin: Short in the 61,800-62,500 zone, target around 60,000
Ethereum: Short in the 1,600-1,650 zone, target around 1,510
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