June 16 Evening Market Analysis:

This morning's short position regrettably hit the stop loss and exited. Let's review today's market: This morning, Bitcoin's price first declined and then rose, quickly plunging to around $104,900 after the market opened, followed by a rebound, rising to the $107,200 level before entering a consolidation phase. In the afternoon, bullish forces significantly strengthened, accompanied by an increase in trading volume, and the price briefly touched $107,300, but was suppressed by strong resistance above, and the upward momentum paused. Entering the evening period, the market experienced a technical pullback, with the price dropping to the $106,500 level, where it found support, maintaining a high-level consolidation pattern. From the daily technical analysis, Bitcoin has recently tested the key support level of $104,000 multiple times and stabilized in a sideways range. The main resistance level above is currently at $107,000, while the short-term support range is $105,000 - $104,000. Ethereum is also showing a consolidation trend, with price forming a support platform around $2,500, the resistance range above is $2,600 - $2,650, and the key support level below has moved up to $2,550. Bitcoin's daily candlestick closed bearish, with the closing price around $105,500, and the Bollinger Bands are in a flat running state, indicating that the market's short-term direction is uncertain. The MACD indicator's double lines are flat, with weak bearish momentum continuing to be released; the KDJ indicator's three lines are turning upward, suggesting a slight warming of bullish sentiment in the short term. Looking at the 4-hour level, the Bollinger Bands are opening upwards, the MACD double lines continue an upward trend, and the bullish momentum bars are gradually enlarging, while the KDJ indicator remains strongly diverging upwards, indicating a bullish technical pattern. It is worth noting that within the 4-hour cycle, Bitcoin has repeatedly verified the validity of the $104,000 - $104,500 support, with key resistance levels above concentrated at $106,500 - $107,000. Ethereum also found effective support at the $2,500 support level and successfully broke through the $2,550 resistance level, with a focus on the breakout situation in the $2,600 - $2,650 range. Overall, the short-term market maintains a high-level consolidation pattern, with both long and short sides continuing to compete at key price levels.

Bitcoin: Short around 108000-108500, target: around 106500-106000

Ethereum: Short around 2680-2700, target: around 2600-2570

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