6.11 Thursday midday market analysis.

From the 4-hour K-line, the auntie bottomed out at 1503 and showed a weak rebound, repeatedly attempting to break above 1700 without success, with the rebound momentum continuously diminishing.
The MACD double lines are still below the zero axis, indicating a weak recovery within a downtrend.
After the Bollinger Bands contracted, the price is stuck in the middle-lower band range.
Short-term resistance is around 1730. If volume cannot break through, the downtrend is likely to continue.
Support levels are first 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 rising, putting risk assets under overall pressure.
ETF funds continue to flow out, and institutional buying interest is low;
ETH continues to weaken relative to BTC, with market funds favoring Bitcoin.
Ethereum lacks independent upward momentum, coupled with decreased on-chain activity, weakening ecological attractiveness, and dominant bearish sentiment.
BTC trading advice: Short around 62,500, take profit at 61,800-60,800, stop loss at 63,500.
ETH trading advice: Short around 1,650, take profit at 1,620-1,590, stop loss at 1,700.