6.19 Initial Analysis of the Morning Thoughts
From the 4-hour chart of Bitcoin, after a three consecutive bearish candles at the price peak, it dipped down to the 103300 line before starting to rebound. In such market conditions, accurately grasping the entry points is particularly crucial, and it is recommended to adopt a strategy of selling high and buying low!
Currently, the market is experiencing clear box fluctuations, awaiting the Federal Reserve's interest rate decision and Powell's speech. Recent data shows a near-zero probability of rate cuts, and it is highly likely that interest rates will remain unchanged, leading to little impact or continued fluctuations. However, the market sentiment is strongly bullish, so the strategy should lean towards buying low.
On the 1-hour level, a small step-up structure has been established, and the support level for the lows coincides highly with the lower Bollinger Band support level, forming an important support line. This becomes a critical dividing line between bulls and bears. If the price can consistently stabilize above the middle Bollinger Band, the bullish trend will be further confirmed in the short term, and the market is expected to continue its upward movement.
Trading Suggestions
Bitcoin: 103000-103600, target 105000-106000
Ethereum: 2440-2470, target 2540-2600