6.14 Evening Bitcoin and Ethereum Market Analysis

A few days ago, I also mentioned to friends that the current Bitcoin market is no longer as sensitive to the current US-Iran situation. Small fluctuations do not have much impact on the market. On the other hand, if a US-Iran ceasefire agreement is reached and the Strait of Hormuz is fully reopened, the long-standing bearish sentiment will be released all at once. Of course, we need to see what the specific outcome is. If it’s just a temporary ceasefire, then the bearish attack won’t be as smooth. It’s less likely to be a one-sided decline like the previous drop below 80,000, and more likely to be a phased upward movement.

Bitcoin’s short-term target is to break through 65,000 and to be able to hold steady, so as to further open up upward space. Although the four-hour upward channel is still ongoing, the daily chart shows a head-and-shoulders pattern that has not been broken, so even if there is a strong rebound, we must always watch for any pullback in the trend. Currently, the bearish momentum is weakening, and after the release, a technical correction is likely. If Bitcoin pulls back and drops below 64,000, first look at the support zone of 63,500-63,000. Support below the altcoin is at 1,650-1,630, with resistance still at 1,700 break. Also, pay attention to news regarding the US-Iran ceasefire. $BTC ‌#TradFiCFD黄金大师赛 $ETH