6.12 Ethereum Morning Outlook $BTC $ETH

Early morning, the Ethereum price trend bottomed out and rebounded, forming a clear V-shaped reversal pattern. The price briefly dipped to around 1650 to gain strong support, then quickly rebounded. Currently, it is above 1670 and gradually testing the 1690 level. The candlestick has returned above the middle band of the Bollinger Bands, and short-term bearish momentum has significantly weakened, with the bulls beginning to take control.

Although the daily chart remains in a range-bound oscillation, the support at 1650-1660 has been repeatedly confirmed as effective, and after the 5-minute Bollinger Bands contracted and turned upward, it shows clear signs of bullish accumulation. The current price remains above the short-term moving averages, the KDJ indicator has a golden cross and is diverging upward, and volume is cooperating well, indicating a typical rebound continuation pattern after a pullback confirmation. The risk of chasing shorts is relatively high, and a low-buying strategy is more prudent.

Trading suggestions:
Go long directly at 1660, targeting 1700-1750