Gu Jingci: 6.12 Bitcoin/Ethereum continues to fluctuate within a narrow range, with overall volatility still relatively low

Since rebounding and stabilizing above 61,000 for Bitcoin and 1,600 for Ethereum after hitting bottom, the market has continued to fluctuate within a narrow range, with weak overall bullish or bearish momentum. The positive news last night did not trigger a significant rally in the crypto market, and as the weekend approaches, there is even less volatility. If the positive factors do not lead to a rise, a retracement and decline may occur again. Most importantly, Bitcoin's sustained high level after the rally is not a good sign; at most, there may be another small upward push before it starts to surge and then fall back. The 4-hour chart shows that after a large volume bullish candle appeared in the early morning, the market entered another range-bound consolidation. Short-term upward momentum and buying power are still present, but selling pressure above is emerging.

On the technical indicators, the 4-hour MACD shows the DIF line crossing above the DEA line to form a golden cross, and the MACD histogram has turned positive, indicating short-term bullish momentum. After a volume-driven surge in the early morning, the market consolidated, and subsequent candles showed decreasing volume, suggesting that market enthusiasm for chasing the rally is not high, and prices may enter consolidation or face a correction. The strength of Bitcoin and altcoins is not genuine; once Bitcoin pulls back, altcoins will also decline again.

Evening trading suggestions: Short Bitcoin near 63,800 to 64,300, with a target around 62,200; short Ethereum near 1,675 to 1,690, with a target around 1,620.

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