6.29 ETH Analysis

The 1-hour cycle shows a dense cluster of piercing wicks, characteristic of chain stop-loss liquidations and extreme value probing under liquidity thinning in a range-bound market. Long and short positions are quickly swept back upon merely touching the extreme values of Bollinger Bands, with price center converging and body compressing. Volatility internal consumption is rising, indicating a chip turnover during a decline repair relay rather than a trend reversal signal.

Upper wicks reflect selling pressure from upper track resistance combined with profit-taking exits; lower wicks originate from passive absorption after low-level stop-loss triggers. The back-and-forth burrs form false breakout structures. Currently, KDJ is approaching overbought saturation, pulse-driven upward momentum is weakening, and extreme price levels lack structural confirmation. It is likely to return to the middle Bollinger track for a retest validation. The range-bound whipsaw nature is prominent, so avoid extreme stop-loss risks. Wait for wick contraction and consecutive bodies to firmly hold key levels before determining direction, and be alert to rapid repricing triggered by correlated movements.

Trading suggestion: Short at 1610-1640, target 1550-1500.$BTC $GT $XRP #Saylor暗示增持BTC #Solana生态ANSEM暴涨