6.17 Morning Bitcoin Market Analysis

In the early hours, the volume temporarily released, pushing the price from around 66,500 down below 66,000, but it still did not break the 65,000 support level. Although Ethereum also moved along with a pullback, the follow-through strength was insufficient, and it rebounded to around 1,800. The rises and falls of the candlestick chart are just like the ebb and flow of life—there are smooth stretches of upward momentum, as well as periods of persistent probing and hardship. Taking a calm view of short-term gains and losses, consolidating your own understanding, and moving forward steadily regardless of whether the market is good or bad is the best state.

At present, although the price has not been able to continue the previous bull’s aggressive push, it still remains near the middle line of the daily chart, showing signs that it may stabilize and hold as support. On the 4-hour timeframe, the Bollinger Bands display a bull structure; the middle band continues to slope upward, and the candlesticks are still within the upward channel. The current bull momentum is in a continuous release phase, which certainly exerts pressure on the short-term bulls. However, the 65,000 support is still holding, and the bulls still have the opportunity to reinforce this level as support, again providing a chance for a volume-driven rebound to break above the previous high. In addition, the J value in the KDJ indicator has entered the oversold zone and is accumulating demand for rebound and corrective recovery. The medium-term outlook remains unchanged: support below Ethereum is expected to be around 1,750, while the upside target aligns with the previous high seen for the main coin. $BTC #Gate现货交易量逆势增长增幅全球第一 $ETH