Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (June 22)

Bitcoin/Ethereum's pullback buy orders placed last night saw a rise in the morning, with decent overall gains. As mentioned last night, the overall trend remains bearish. Initially, there were hopes for a rise to around 66,000 and 1800, but the rally stalled around 64,800 and 1760, indicating a weak trend. The market has been fluctuating widely due to the Fed's interest rate hikes and cuts, as well as the US-Iran conflict. However, the impact of the US-Iran conflict has been gradually diminishing recently, and it will likely become the norm, with only one outcome: negotiations are unlikely to yield results in the short term. Therefore, we need to return to technical analysis and the Fed's interest rate cuts. The market rallied in the morning but then fell back, showing a weak trend. The 4-hour chart shows a large bullish candle with a long lower shadow, recovering most of the previous bearish candle's losses, forming a bullish engulfing pattern. This indicates strong buying pressure and a short-term reversal signal, but its sustainability is weak. If the rally fails to break through, the subsequent pullback could be significant, and the overall trend remains bearish. Trading suggestions: Short Bitcoin around 64200 to 64600, with a target of around 62500; Short Ethereum around 1740 to 1760, with a target of around 1690.