$BTC 6.17 Evening Market Outlook

Looking at the 1-hour chart, although the 1-hour timeframe experienced a deep pullback, with the price dropping to a low of 64,525, there was sufficient support at this level. The bearish momentum was fully released at the lows, and a bullish candlestick indicating a halt in decline signaled a recovery trend. The lower band of the Bollinger Bands has begun to flatten, and the downward momentum continues to weaken. The current price is rising back toward the middle band of the Bollinger Bands, and the short-term downward space has been closed. As long as this recovery can steadily hold above the middle band resistance, it can reverse the short-term weak trend and reopen the upward correction space.

Looking at the 4-hour chart, the overall Bollinger channel still maintains a long-term upward structure with an opening upward trend. The lower band of the Bollinger Bands continues to rise steadily, establishing a solid foundation for the medium-term bullish pattern. The previous rise and fall were only a phase of adjustment during the upward movement. The price briefly broke below the 4-hour middle band but did not damage the overall upward channel. The support zone below is sufficiently strong to prevent continuous downward movement, and there is no basis for a sustained one-sided decline. There will also be a wave of news impact tonight, with particular attention to Federal Reserve Chair Powell’s speech. If there is no rate hike, a rebound and rally are expected, with the highest rebound target seen at 68,000.

Wednesday night Bitcoin trading suggestion: Buy near 64,800-64,300, target up to 66,500.
Ethereum trading suggestion: Buy near 1,730-1,750, target up to 1,800.