6.11 Thursday midday market analysis.

From the 4-hour K-line, the姨太 (mistress) rebounded weakly after bottoming out at 1503, multiple attempts to break above 1700 were unsuccessful, and the rebound momentum continued to weaken, with the MACD double lines still below the zero axis, indicating a weak correction within a downtrend.
The Bollinger Bands are narrowing, and the price is stuck in the middle-lower band range, with short-term resistance around 1730.
If volume does not increase to break through, the trend is likely to continue downward, with initial support at 1600.
If broken, it will return to around 1500 to test new lows.
On the macro level, the Fed's rate hike expectations are heating up, and risk assets are under overall pressure, with ETF funds continuously flowing out and institutional buying interest remaining low;
ETH continues to weaken relative to BTC, and market funds tend to flow into Bitcoin.
Ethereum lacks independent upward momentum, coupled with decreased on-chain activity, weakening ecological attractiveness, and dominant bearish sentiment.
BTC trading suggestion: Short around 62,500, take profit at 61,800-60,800, stop loss at 63,500.
ETH trading suggestion: Short around 1,650, take profit at 1,620-1,590, stop loss at 1,700.