Thursday Summary, June 12th, Friday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

Yesterday, Thursday, the market showed a weak pattern of initial decline, followed by a slight rebound, then a return to decline. Bitcoin dropped from a small high near the early morning to around 61,000, then in the morning, bulls launched a rapid rebound driven by oversold sentiment, returning to the previous oscillation zone. Bitcoin surged to a high of 63,235, while Ethereum also rose to around 1,673. However, this rebound did not see effective volume expansion, and after hitting resistance levels, it quickly retreated. In the evening, bullish momentum gradually exhausted, leading to a slight decline again.
During the day, it is clear that the overall trend remains bearish, with the rebound high points prioritized for short positions, and only short-term scalping at low levels. Bitcoin gained 2,186 points throughout the day, while Ethereum gained 95 points.

Currently, after yesterday’s weak rebound, the market has reached the resistance zone and then pulled back; the overall structure remains bearish. The short-term oscillation upward has approached resistance levels at around 63,800 for Bitcoin and 1,680 for Ethereum. There are signs of stagnation in the short cycle. The four-hour Bollinger Bands are generally maintaining a downward opening pattern, and after touching the middle band, the candlesticks failed to stabilize, instead showing upper shadows, indicating that bulls are under pressure at this level. Currently, prices have fallen back below the middle band, and the downtrend continues. The overall downward trend has not been reversed; the recent rebound is just a correction within the downtrend.
On the hourly chart, after rebounding near the upper Bollinger Band, the price faced resistance and declined. It has now broken below the middle band, with candlesticks forming doji and small bearish candles, showing weak upward momentum. Bulls are unable to stabilize above resistance levels, preventing further rebounds. The Bollinger Bands are flattening, with obvious weak characteristics, increasing the probability of a downward reversal. The current market is in the early stage of decline after a rebound, with bearish momentum re-accumulating. Trading should mainly focus on shorting at rebound highs.
Bitcoin: Range of 63,000-63,500, target lower around 61,000
Ethereum: Range of 1,685-1,715, target lower around 1,600
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