Market Analysis on June 17
1. Under the backdrop of geopolitical tensions, cryptocurrencies have slightly rebounded. BTC has recovered the losses from geopolitical risks in sync with the U.S. stock market yesterday, indicating that the market's risk premium regarding the Middle East conflict is diminishing. The S&P 500 has returned to its weekly high, but there is still an expectation of a pullback until it stabilizes above 6100.
2. #BTC accelerated its rise after breaking through yesterday, with the U.S. stock market opening high and trending upward. The long position pattern may have many chasing the rise, while the morning saw a rapid decline, primarily affecting the bulls. Currently, the market is challenging for both bulls and bears, and any slight fluctuation seems to be detrimental. The price touched the upper track of the daily chart and retreated, with the bottom adjusting and converging towards a breakout and retest. Today's support is marked at 106000-105500; if this position does not fall, we will look for consolidation or an upward trend. Resistance is again near 109000, so be patient and wait for the interest rate meeting.
3. #ETH fell back after rebounding with the overall market yesterday, with prices quickly retreating after being blocked at 2680. From the 4-hour candlestick perspective, the large bearish candle at 4 AM has engulfing expectations, and we need to track subsequent movements. In the short term, the middle Bollinger band at 2620 currently has resistance expectations, so pay attention to entry opportunities for short positions here, with short-term support at 2580-2550. From a medium-term perspective, E is currently at a critical point for both bulls and bears, focusing on whether it can stabilize above 2700 and the market fluctuations brought about by the upcoming interest rate meeting.
1. Under the backdrop of geopolitical tensions, cryptocurrencies have slightly rebounded. BTC has recovered the losses from geopolitical risks in sync with the U.S. stock market yesterday, indicating that the market's risk premium regarding the Middle East conflict is diminishing. The S&P 500 has returned to its weekly high, but there is still an expectation of a pullback until it stabilizes above 6100.
2. #BTC accelerated its rise after breaking through yesterday, with the U.S. stock market opening high and trending upward. The long position pattern may have many chasing the rise, while the morning saw a rapid decline, primarily affecting the bulls. Currently, the market is challenging for both bulls and bears, and any slight fluctuation seems to be detrimental. The price touched the upper track of the daily chart and retreated, with the bottom adjusting and converging towards a breakout and retest. Today's support is marked at 106000-105500; if this position does not fall, we will look for consolidation or an upward trend. Resistance is again near 109000, so be patient and wait for the interest rate meeting.
3. #ETH fell back after rebounding with the overall market yesterday, with prices quickly retreating after being blocked at 2680. From the 4-hour candlestick perspective, the large bearish candle at 4 AM has engulfing expectations, and we need to track subsequent movements. In the short term, the middle Bollinger band at 2620 currently has resistance expectations, so pay attention to entry opportunities for short positions here, with short-term support at 2580-2550. From a medium-term perspective, E is currently at a critical point for both bulls and bears, focusing on whether it can stabilize above 2700 and the market fluctuations brought about by the upcoming interest rate meeting.
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BTC
104,707.72
-0.04%
ETH
2,525.49
+0.60%