June 16 Afternoon Market Analysis$BTC $ETH

Although there was an initial rally in the early afternoon, after reaching a high, multiple bearish candlesticks closed with continuous real bodies, indicating a oscillation and pullback. The rebound momentum has clearly weakened, and the short-term bullish trend has been broken. From the details of the market, the downward force during the correction did not diminish; instead, it was accompanied by a gradual release of selling pressure. The resistance area above is heavily sold. The current price has broken below the short-term key support level and failed to form an effective stabilization candlestick, indicating that a short-term bottoming signal has not appeared. The bearish dominance pattern is being established. Although the previous upward move in the larger cycle was substantial, it has now shifted into a high-level correction phase to release risk, mainly following the trend to short.

Trading Suggestions

Short positions around 66,500-66,800 on Bitcoin, with targets down to around 64,500-63,500
Short positions around 1,780-1,800 on Ethereum, with targets down to around 1,740-1,720