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6.16 Afternoon Analysis
Bitcoin daily chart shows that after the weekend's fluctuations, there is an intraday rebound, currently testing the middle track and the 7-day moving average. The Bollinger Bands are in a flat state, with short-term moving averages operating around the middle track. The MACD fast and slow lines are crossing downwards with slightly reduced volume, and the KDJ shows signs of turning. The VR indicator is hovering around the 120 value.
On the 4-hour chart, the market has broken through the upper track with consecutive positive candles. The Bollinger Bands are slightly opening, and short-term moving averages are turning upwards. The MACD fast and slow lines are crossing upwards with increased volume, and the KDJ is extending upwards, paying attention to the resistance near the 100 value. The VR indicator is hovering around the 70 value. Overall, the market is oscillating within the Bollinger Bands range on the daily chart. Although there is a short-term rebound, the resistance at high levels still exists. After the rebound ends, it will retest the bottom support. In the short term, treat it as a range and look at short-term suggestions.
Bitcoin: Around 107500-108000
Target: Around 106000-104200
Altcoin: Around 2650-2700
Target: Around 2490-2450
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