June 22 (Monday) — Zhongling Morning BTC/ETH Market Commentary

After BTC pulled back to test the 63,500 support level in the early morning, it steadied and rebounded; however, short-term trading volume has not yet expanded effectively, and the adjustment structure remains intact. ETH shows clear resilience to declines, and is currently consolidating narrowly around 1,710.

At the daily level, Bitcoin’s Bollinger Bands are still overall in a downward trend: the upper band keeps pressing downward, and the price remains below the middle band, indicating that the medium- to long-term downtrend is already fairly clear, with the upside rebound space significantly constrained. The key focus now is the strong resistance area around 64,300. If volume cannot be effectively increased and this level is not broken, any rebound should be treated as a corrective bounce during a downswing. Candlesticks frequently form long upper shadows at higher levels, showing that selling pressure from above is evident; therefore, it is still recommended to place shorts based on rebounds.

Trading suggestions:
Short in the 63,600-64,100 range for the day, targeting 61,300
Short in the 1,720-1,740 range for the day, targeting 1,600
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