Bitcoin/Ethereum Operation Strategy and Market Analysis as of June 22

Bitcoin/Ethereum saw a rebound in early trading after a retracement of long positions last night, with overall room for growth remaining good. Last night, it was also mentioned that the main trend remains bearish, initially hoping for a rise to around 66,000 and 1,800, but the highest reached was about 64,800 and 1,760 before stalling, indicating a weak trend. During this period, the market has been dominated by wide fluctuations driven by Federal Reserve interest rate hikes, cuts, and US-Iran conflicts. In fact, the impact of the US-Iran conflict has been gradually diminishing over recent times and will likely normalize in the future. The conclusion is clear: negotiations are unlikely to yield results in the short term! Therefore, it’s necessary to focus on technical analysis and Federal Reserve rate cut expectations.

After an early rally, the market pulled back, showing a weak trend. The four-hour candlestick chart indicates a large bullish candle with a long lower shadow, recovering most of the previous bearish candle’s decline, forming a bullish engulfing pattern. This suggests strong buying pressure below and a short-term reversal signal in the market, but the sustainability is weak. If the rally fails to break through, subsequent pullbacks could still have considerable room, and the overall trend remains in a long-term downtrend.

Trading Suggestions: Short around 64,200 to 64,600 for Bitcoin, with a target of about 62,500; short around 1,740 to 1,760 for Ethereum, with a target #我的Gate交易时刻 of about 1,690.