June 16 Morning Analysis:

Yesterday, the market showed a volatile trend for Bitcoin prices. During the day, it reached a high of 106079 points before facing pressure and quickly falling back to around 104826, then slightly rebounding to around 105782 and entering a consolidation phase. In the early morning hours, the price once again dipped, reaching a low of around 104438.

For Ethereum, the trend was clearly linked to the overall market, hitting a resistance at 2560 before quickly retracting to 2490, demonstrating strong short-term selling pressure. However, the price subsequently staged a V-shaped reversal and has now stabilized above 2545, indicating that bulls still have some fighting power.

From a technical analysis perspective, the four-hour chart for Bitcoin shows that it is currently in a low-level sideways consolidation state. The Bollinger Bands continue to narrow, with the upper and lower band resistances gradually tightening, suggesting that the market is gathering momentum, waiting for a directional breakout. Although the candlesticks occasionally show long wicks, they remain under pressure around the middle band of the Bollinger Bands, combined with a clear bearish arrangement in the moving average system. In the short term, as long as the Bitcoin price fails to effectively stabilize above the key level of 106300, the bearish market pattern may continue.

Further observing the hourly trend, the signs of Bollinger Bands narrowing are even more significant, directly reflecting that the market's volatility is continuously decreasing, with both bulls and bears becoming cautious. At the same time, trading volume has noticeably shrunk, and trading enthusiasm has cooled, indirectly confirming that the current market is still in a sideways consolidation range.

Bitcoin: Short around 105800-106000, target around 104500

Ethereum: Short around 2550-2570, target around 2490

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