Wednesday, June 10th Bitcoin and Ethereum Market Analysis and Trading Suggestions

Looking back from early morning until now, the overall trend has entered a technical correction phase after a decline. Bitcoin found support around 60,755 and then oscillated upward, with the highest touch reaching near 62,253. Ethereum also rebounded in sync, rising from a low of 1,613 to around 1,662. Overall, after a continuous decline, the bearish momentum is gradually weakening, buying interest at lower levels is beginning to enter, and clear signs of stabilization have appeared on the hourly chart, indicating a rebound is underway.
After confirming a bottoming out in the early morning, the market naturally adopted a bullish outlook. Bitcoin opened long positions at 61,381, successfully took profit at 62,000, and modestly gained 619 points of profit.

Currently, after a series of declines, the bearish momentum is gradually weakening. The K-lines across multiple timeframes are stabilizing above the lower Bollinger Band, forming support, with the downward slope slowing. Although the longer-term trend remains in a downtrend channel, there is ample room for short-term correction and rebound, showing signs of recovery. On the four-hour chart, Bitcoin is still below the middle Bollinger Band, but the Bollinger Bands are narrowing and flattening at the lower band, providing support. The upper space for a rebound and correction has opened, with a bullish candle with a lower shadow clearly signaling stabilization. In the short term, strong support is seen at 61,000-61,200, which is the area to watch for a potential rise.
On the hourly chart, the early morning rebound has consecutively produced bullish candles with full bodies, indicating increasing bullish momentum. The Bollinger Bands are narrowing, suggesting a possible test of the middle and upper bands again. Ethereum is moving in sync; on the four-hour chart, it has already moved away from the lower band area. After a doji at the low, a bullish candle with a lower shadow appeared, indicating stabilization.
For intraday trading, focus on buying low during the correction and rebound, with a light position and phased deployment. Set stop-loss orders to avoid secondary breakdown risks.
Bitcoin: Buy in the 61,000-61,500 range, targeting around 62,300.
Ethereum: Buy in the 1,600-1,635 range, targeting around 1,745.
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