Yue Ying: 6.16-17 Bitcoin and Ethereum Market Analysis Today, Rebound Blocked, Bears Strike Back? Short-term Suggestions Included — Let’s see today’s sharing!

Bitcoin Technical Analysis ————
In the previous analysis, the short-term strategy was to buy at 65,800. The market rebounded around 65,700 up to about 67,000, creating a range of roughly $1,100, with the levels being quite precise. On the daily chart, the previous candle closed with an upper shadow bullish candle, encountering resistance around the middle band and pulling back. The opening of the day tested the middle band again, facing resistance and retreating. The Bollinger Bands are narrowing, the short-term moving averages are turning upward, MACD fast and slow lines are crossing upward with increasing volume bars, KDJ is near 100 and turning downward, and the VR indicator is consolidating around 30.
On the 4-hour chart, after breaking above the upper band, there was no continuation; it slightly retraced to test the middle band. The Bollinger Bands are showing signs of narrowing while moving upward, short-term moving averages are aligned upward, MACD fast and slow lines are turning downward and converging with green volume bars slightly increasing, KDJ is crossing downward, and the VR indicator is consolidating near 110.
Overall, the market rebounded to retest the daily middle band but did not fully break through. In the short term, focus on the breakout situation; only a confirmed breakout and stabilization will lead to further movement toward testing the 70k level. Support below is around the daily 7 moving averages; if broken, the decline will continue. For now, monitor the breakout of the upper and lower levels. If not broken, you can consider entering; if the previous high is broken, wait for around 69,200 for further reference. Short-term strategies are recommended accordingly.

Bitcoin Short-term Suggestion: Buy at 64,800, sell at 67,000 (activate strategy for profit, self-managed)

Yitai Technical Analysis ————
Yitai previously suggested a buy at 1,758. The market precisely bounced at 1,757, with a limited range of about $80. Overall technicals on the daily and 4-hour charts are linked to Bitcoin’s movements, with the same key points of resistance and support. Resistance first at the previous high; if broken, look below 1,980 for further resistance. Support is around the daily 7 moving averages; if broken, further decline is expected. Awaiting further updates. Short-term suggestions are as follows:

Yitai Short-term Suggestion: Buy at 1,730, sell at 1,830 (activate strategy for profit, self-managed)

— I am Zhou Yue Ying, a teacher focused on technical analysis. If anyone has questions about operations or trends, feel free to exchange ideas with me! Let’s learn and profit together! $BTC ‌#加密市场延续反弹 #我的Gate交易时刻