Wednesday, June 17 Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

Good morning, friends! Looking back at the overnight to now, the market has been relatively stable, with Bitcoin dipping to 65,529 and Ethereum dropping to 1,771, without forming lower lows. Subsequently, the prices gradually oscillated and recovered. This decline still belongs to a correction after a sharp previous rally. The price confirmed strong support at around 65,400, and the bearish momentum has been fully released. The short-term has entered a low-range sideways consolidation, and the overall bullish structure has not been completely broken. Last night, multiple positions were patiently held.

Yesterday, the actual market layout adhered to the bullish trend, with one small position slightly trapped, while the rest were successfully closed with profits. Bitcoin gained a total of 1,858 points, and Ethereum gained 93 points. The trend remains unchanged, and we are waiting for a rebound.

Currently, the overall pattern shows that the bullish trend has not ended due to yesterday’s decline; instead, it has further solidified the foundation for upward movement. As long as key support levels are not broken below, there is still potential for the market to continue rising. The four-hour Bollinger Bands still maintain an overall upward shape, with lows continuously rising. Retracements near the middle band found support without expanding the decline, and the medium- to long-term upward structure remains intact. The hourly Bollinger Bands are narrowing, indicating the market is entering a sideways accumulation phase. The small-cycle candlesticks are oscillating repeatedly, and the bears no longer have the momentum to break downward. Bitcoin at 65,400 has formed a strong support level. The recent pullback has already reached its target. On the news front, focus on the Federal Reserve interest rate meeting and the formal signing of the Iran-U.S. agreement. In terms of operations, maintain a strategy of first going long, then short, rebounding first, and then shorting at a high or resistance level.

Bitcoin: Go long near 65,500, target 67,200, break to watch 78,000
Ethereum: Go long near 1,780, target 1,854, break to watch 1,900
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