6.22 Market Analysis: Continue to Observe the Strength of the Upward Rebound

Bitcoin failed to break through 64,588 last night. From midnight to this morning, it retraced again, dropping to a low of 63,270. It did not break below 63,200. This morning, it surged again to 64,823. From the structure, there is still a chance that in the short term it can continue to rebound upward once more. It remains to be seen whether it can break above 65,500 and reach above 67,000.

Ideally, Bitcoin can surge upward one more time to complete the final extension of the 4h-level rebound, and then start falling.

For the 4h cycle, it is still necessary to observe whether it will continue to extend the upward 4h-level rebound or form a new 4h-level decline.

The 1h cycle is currently running a 1h-level rebound—continue to watch this rebound.

The 1h-level rebound is not over yet. This morning, it surged from 63,270 to 64,823 and only ran for 1 hour 40 minutes, which is too short. Therefore, it is expected that tonight it will most likely continue to push above 64,800. After it surges again, the main focus will still be whether 65,500 can be broken. If it breaks, there is still a probability of continuing to test above 67,000. If it drops back below 63,300 in the short term, it can be considered that the fourth 1h-level rebound has likely ended, and the second sell has occurred—then it is entirely normal to see a new 4h-level decline in the short term.

For the 15-minute level, it is currently still in the 5th 15-minute rebound wave. Watch whether it can break through 65,500 smoothly tonight into the early morning. In the short term, only if it drops below 63,300 again can the short-term rebound be confirmed as ended.

Ethereum fell below 1704 this morning, but it was quickly pulled back to around 1759. This indicates that sometimes the accuracy of our observation points for Ethereum is not as high as it is for Bitcoin. Therefore, sometimes it also needs to be considered together with Bitcoin. If Bitcoin does not break key levels, then Ethereum also needs to continue following Bitcoin.

From the structure at the 15-minute central pivot level, if Ethereum breaks below the upper boundary of the central pivot—that is, if it falls back below 1719—then Ethereum has a relatively high probability of having ended the 1h-level rebound. If it does not break below 1719, then Ethereum still has a chance to extend upward. The perfect path would be for Ethereum to surge again to around 1850, completing the 4h-level rebound, and then starting a new 4h-level decline afterward.