Market Analysis for the Evening of June 13
$BTC $ETH After the deep pullback over the past two days, Bitcoin ultimately stopped at the low of 102614 during the day. After reaching the low, the price of Bitcoin started to show a slow upward trend, and bearish sentiment was gradually recovered. Currently, the price of Bitcoin is gradually testing the resistance at the level of 105000. After the previous pressure and pullback, Ethereum reached a low of 2433 during the day before rebounding, with the market showing signs of warming. As the lows continue to rise, bulls are also beginning to launch a counterattack.
Looking at the four-hour level, the price shows a fast drop and slow rise, with the overall trend still dominated by bulls. The current price is stable above the middle track, with resistance above at the level of 105000. Once this position is broken and stabilized, it will be equivalent to unleashing a fierce beast, and the bulls will surely rise strongly. In a strong market, be cautious of a pullback after a spike, while in a weak market, there's more fear of a bottom-testing rebound. During the day, there were multiple pullbacks to test the bottom, but the price rebounded each time, indicating that the downward momentum is hindered and the rebound is active. We expect the bulls to continue to recover lost ground; if the pullback is hindered, following the bulls would be a wise move. Our evening strategy will still revolve around the bulls.
Operating Suggestions
Buy Bitcoin around 104000 directly with a target of 106000-10800
Buy Ethereum around 2500-25200 with a target of 2580 -2650
