6.18 Wednesday Morning Bitcoin and Ethereum Analysis Focus on Short Positions, Support on Long Positions

Early Morning Market Review: Bitcoin and Ethereum respectively dipped to around 103300 and 2450. From a technical perspective, the price has continued to oscillate within the middle and lower bands after breaking below the middle band of the Bollinger Bands on the 1-hour timeframe, showing a bearish dominant pattern with insufficient rebound momentum, and the market trading is light. On the 4-hour timeframe, after a single bullish candle, it fell into a tug-of-war between bulls and bears, with the price running along the lower band of the Bollinger Bands, and bears holding the advantage. The overall market is currently weak, and it is expected to be difficult to form an effective breakthrough in the short term, so it is recommended to focus on shorting during rebounds and supporting long positions during pullbacks.

Trading Range for Bitcoin: 1048-1050, Target: 1035

Trading Range for Ethereum: 2530-2550, Target: 2490

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