Tuesday, June 23rd Bitcoin and Ethereum Market Analysis and Trading Suggestions

Reviewing the early morning, Bitcoin surged to a high of 65,597 but faced resistance, with selling pressure concentrated and released above, then continuously pulling back, dropping to 63,758. Ethereum followed Bitcoin’s move, showing a rise and fall pattern, retracing to above 1716. In the early morning, Bitcoin failed to stabilize above the resistance zone after a spike, entering a correction phase. Yesterday, Zhi Lan accurately timed the intraday moves, with Bitcoin gaining a total of 2,255 points, and Ethereum gaining 47 points. The trading approach was clear, flexible, and not rigidly fixed on a single strategy.

Currently, the bullish momentum failed to hold above the resistance zone, then entered a correction phase, gradually approaching the lower support levels near Bitcoin 63,200 and Ethereum 1715. The support levels have been tested and confirmed as effective. On the daily chart, a long lower shadow was formed at this level, indicating a clear bottoming and rebound signal, confirming a short-term bottom. On the four-hour chart, after facing resistance, prices fell back near the midline, with candlesticks showing lower shadows, and the midline support beginning to appear. The Bollinger Bands are opening upward, indicating an overall upward trend remains intact. On the hourly chart, long lower shadow candles continue to form, with buying support below, and support levels holding firm. Without breaking support, the upward momentum cannot further extend. After the correction, the upward push will continue. In terms of trading, prioritize buying on dips at key support levels, and consider short positions at resistance levels.

Bitcoin: Buy on dips in the 63,500–63,200 range, targeting 64,700 → 65,500
Ethereum: Buy on dips around 1,715, targeting 1,755 → 1,795
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