June 12 Market Analysis

After consolidating at low levels yesterday, the market stabilized and rebounded, with short-term bullish momentum slightly strengthening, maintaining an overall oscillating and slightly bullish pattern.
BTC current price is $63,500, up 2.4% in 24 hours, with a intraday dip and rebound, and the rebound volume gently increasing; ETH follows the market upward, current price is $1,670, up 2.1%, with resistance expected at the $1,720 level, and the rebound strength remains decent. Mainstream coins generally closed higher, altcoin sectors are flourishing with multiple projects gaining, and profit-taking effects are evident in some areas.
In the past 24 hours, approximately $272 million was liquidated across the entire network, with more short positions being stopped out and exiting the market, further easing selling pressure. The fear and greed index is at 18, still in extreme fear territory, indicating market confidence has somewhat recovered but not fully restored, and a wait-and-see sentiment persists. On the news front, the sharp rise in the US stock market has boosted risk appetite, combined with short-term oversold rebound demand, driving the market higher, but macro bearish factors like Fed rate hike expectations remain, so the sustainability of the rebound is still to be observed.
From a technical perspective, short-term resistance for BTC is at 64,200-65,000, with support at 62,500 and 61,800; ETH resistance is at 1,720-1,780, with support at 1,640 and 1,600.
The current market is a technical rebound after bottom stabilization, and the major bearish trend has not undergone a fundamental reversal. In terms of trading strategy, avoid blindly chasing rallies; consider shorting lightly at resistance levels during rebounds, and cautiously go long on dips at key supports. Maintain a overall oscillating approach, strictly control positions, and set stop-losses accordingly.
⚠️Risk reminder: Cryptocurrency prices are highly volatile. The content is for market analysis only and does not constitute investment advice.