Yueying: Bitcoin and Ethereum Market Analysis (June 16-17) - Rebound Fails, Bears Rebound? Short-Term Suggestions Included

The short-term strategy given above for Bitcoin was to go long at 65800. The price rebounded from around 65700 to around 67000, a range of about 1100 dollars, which was relatively small and the entry point was accurate. Looking at the daily chart, the previous candlestick was a bullish candle with an upper shadow, encountering resistance around the middle Bollinger Band and pulling back. Intraday, the price opened higher again to test the middle Bollinger Band and then pulled back again. The Bollinger Bands are narrowing, and the short-term moving averages are turning upwards. The MACD fast and slow lines are crossing upwards with increasing volume. The KDJ is encountering resistance near 100 and turning downwards. The VR indicator is consolidating around 30. Looking at the 4-hour chart, the price failed to continue its upward momentum after breaking through the upper Bollinger Band and pulled back slightly to test the middle Bollinger Band. The Bollinger Bands are showing signs of narrowing, and the short-term moving averages are aligned upwards. The MACD fast and slow lines are turning downwards and converging, with the volume bars turning green and showing slight increasing volume. The KDJ is crossing downwards, and the VR indicator is consolidating around 110. Overall, the market rebounded and retested the daily moving average, but failed to break through completely. Therefore, in the short term, we should continue to focus on the breakout situation. Only a breakout and stabilization will lead to further movement to test the 70,000 psychological level. Short-term support is around the 7-day moving average on the daily chart. A break below this level will likely lead to further declines. For now, we should focus on breakouts above and below these levels. If the price doesn't break through, we can enter a trade. If the previous high is broken, we should wait for the 69,200 area to retest. Bitcoin short-term suggestions: Long at 64,800, Short at 67,000. The 1758 long position on Ethereum mentioned above was precisely reached at 1757, with a limited upside of only about 80 dollars. The overall technical analysis of the daily and 4-hour charts is correlated with Bitcoin's price action, and the key points to watch are the same. First, consider the resistance at the previous high. A break below this level will lead to resistance around 1980. Support is also around the 7-day moving average on the daily chart. A break below this level will likely lead to further declines. Auntie's short-term trading advice: Buy at 1730, sell at 1830 (Click the image to see the homepage introduction for more currency analysis) — I am Zhou Yueying.