🌿 June 21st midday market outlook.🌿
$BTC opinion:
Bitcoin and Ethereum are really playing well, directly executing a two-level reversal with a turn. Let's just step down directly to the target!
Bitcoin, with significant volume, broke through 103510 and closed above the 10-hour level at 103510, go long on the right side to catch the rebound, set stop loss on break.
103207 broke down with significant volume, unable to recover on the right side, go short, recover stop loss, and pay attention to volume changes, keep a good stop loss.
102385 showed a false breakdown, recover with a light position to go long, set stop loss at the false breakdown low or if it breaks 101470, don’t go long if it can’t recover.
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If Bitcoin can break through 103823 at the hourly level, look upwards at 104581-105274, going down is easy but going up is hard!
Be cautious shorting Bitcoin, watch for a 2b false breakout at 104603 to go short, set stop loss if it stabilizes above 105491.
Conservative traders should wait: go long at 100698, set stop loss if it breaks 99840.
The flag pattern drawn in the Bitcoin hourly chart has already been broken. If it cannot recover to operate within the flag pattern in the coming time, the risk of a decline is still not alleviated. Currently, the lower boundary of this flag pattern is the biggest resistance level for Bitcoin.
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Upper pressure levels: 103825-104566-105491
Lower support levels: 103000-102341-101434
At the 4-hour level, if 102339 breaks down and fails to recover, look at the target position below: 101489-100699.
Currently, Bitcoin is undergoing a consolidation after a decline, and the hourly level has already broken the previous low of 102614, with a new lower low appearing which is not a good sign.
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$ETH thoughts:
Ethereum, with significant volume, broke through 2431, go long on the right side for a short position, recover stop loss.
2493 broke down with significant volume, go short on the right side, keep a good stop loss.
Pullback to 2377 confirms effective support, add one more long position, set stop loss if it breaks 2347.
Ethereum hourly level can stabilize at 2435 looking upwards at 2485-2507, 2435 has turned into resistance from previous support.
Watch for a short position at 2507, set stop loss at 2549 if it breaks.
Left side order: go long at 2311, must stop loss if it breaks 2273.
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Upper pressure levels: 2435-2485-2508
Lower support levels: 2393-2350-2311
At the 4-hour level, if 2388 breaks down, look down at 2350-2313, if 2311 breaks down, it will quickly approach around 2200.
The Fibonacci 1:1 retracement target position for Ethereum at the hourly level is 2242, looks like Ethereum should touch that, meeting adjourned.
