June 17 BTC/ETH Miken Strategy

Wosh's debut is imminent, at 2 a.m. Beijing time, the new Federal Reserve Chair Wosh will preside over his first FOMC meeting. Let's see what kind of feedback the global markets will have towards Wosh. There's an old Chinese saying: a new official makes three fires when taking office. Let's look forward to it together. Currently, both targets have entered the dense area of previous trapped positions, and there will be considerable pressure. The pace should be slowed appropriately, wait for signals, wait for confirmation, and do not chase.

BTC: The previous tweet indicated that after completing the three major targets, Bitcoin reached the resistance box of 66,740-68,300 in the June 3rd resistance zone. At the beginning of the month, there were two trading days of hesitation at this level, followed by an accelerated decline. Therefore, both the trapped positions and selling pressure at this level are quite heavy. It is normal for the market to encounter resistance and fall back. Continue to confirm the effect of the three major pressures turning into support. Today, focus on the possible pullback in the second zone of 64,100-65,400. Use the lower boundary as a defense if it dips. The high short-term defense position is temporarily set at 66,740. Aggressive traders can use yesterday’s high of 67,270 as a defense. Participate if there is an opportunity today; if not, patiently wait. The FOMC meeting early Thursday morning may bring new directions. Stay tuned. (See chart for levels)

ETH: The four price levels of 1859-1909-1965-2038 form three boxes, which also release trapped positions from the sharp decline wave at the beginning of the month. Currently, only resistance and pullback are observed; the trend is not confirmed to be over yet. Maintain a cautious and alert attitude. The large box of 1607-1715 below is the wide-range consolidation area from last weekend. The current upward trend should ideally not return into this box. Therefore, resistance should be set in advance at 1715-1772. For additional dips, target this area, with a defense at 1715. For high short positions, use 1825 as a defense temporarily, because it is only a pullback due to selling pressure, and the trend reversal cannot be confirmed. High short positions are still left-side trial and error; control position size carefully. (See chart for details) $ETH