6.17 Afternoon Thoughts
During the morning session, the price suddenly dipped, forming a deep pullback. When it touched the psychological support line of $106,000, bullish forces quickly counterattacked, pushing the price up to a high of $107,700. However, the pressure above is significant, and the current price is stuck in a sideways oscillation near $107,000. From the 1-hour candlestick technical analysis, the candlestick pattern quickly shifted from two consecutive bullish candles to three consecutive bearish candles, with the price continuously hovering between the middle and lower Bollinger Bands; the MACD indicator's green bars are expanding, releasing a clear bearish signal; the KDJ three lines are in a horizontal intertwining state, indicating that market participants are in a wait-and-see mood, with short-term liquidity being insufficient. Based on the technical performance, it is expected that Bitcoin may still have a momentum for a downward dip in the short term. In terms of trading strategy, it is recommended to continue following the morning thoughts, patiently waiting for the price to retest key support levels before primarily establishing long positions with light exposure.
Bitcoin: Buy near 106100-106400, target 107500-108000
Ethereum: Buy near 2525-2545, target around 2640
