Thursday Summary, June 19 Early Friday Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the investment battlefield, it's not about who runs faster, but who survives longer. Looking back at Thursday's overall market, the white trading session showed relatively small fluctuations, while in the evening, a full-scale bearish trend erupted. Bitcoin continued to break downward, repeatedly losing multiple support levels, with the lowest dropping to around 62,232. Ethereum also entered a sharp decline, touching around 1,678 at the lowest point, then rebounded slightly at the close. The daily chart has already formed a bearish structure, with rebound strength weakening more and more. Each small rebound is followed by a new round of selling, with the bears regaining control of the market.
From the morning onward, the strategy was clearly to follow the trend and look bearish. Zhi Lan Shi Pan's Bitcoin gained a total of 3,038 points in one day, and Ethereum gained 133 points. Congratulations to those who followed this move and reaped full gains. With such an obvious downward trend, there shouldn't be anyone still fighting against the trend and holding long positions.

The current market pattern has formed a clear "Kong head" signal, with lower highs continuously forming, and almost no strong rebounds during the decline. The "Kong head" structure remains unchanged. On the daily chart, Bitcoin has formed a "Three Black Crows" candlestick pattern with three consecutive bearish candles, and has now broken below the 63,800 support level. It is likely to return to the previous starting point of the rally around 59,080. Ethereum, on the daily chart, failed to recover above the 1,800 range after two rebounds, and formed a "Evening Star" candlestick pattern at the 1,800 resistance level, indicating a clear downward signal on the daily chart. The hourly Bollinger Bands are expanding downward, the downtrend channel is open, and the candlesticks are consecutively closing bearish. The small real bodies of the bullish candles show insufficient buying support. Today, the US stock market is closed, liquidity is relatively weak, and market volatility is likely to decrease. Trading should mainly focus on rebounds for shorting, strictly controlling positions, and avoiding heavy bets.
Bitcoin: Short around 63,000, target 62,300 → 61,200
Ethereum: Short around 1,700, target 1,660 → 1,615
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