6.21 Early Morning Thoughts
Today, the market surged to 106500 before being knocked down, following the U.S. stock market opening with a sharp drop of over 3000 points, reaching a low of around 102000. Ethereum also fell to 2363.
The daily chart shows a long upper shadow bearish candle, breaking below the previous support level. Although it hasn't broken 102000, bearish signals have already emerged. The Bollinger Bands are still flat; if it wants to continue dropping, it will need to linger a bit longer. Currently, looking at the liquidation situation, the bottom pressure is not significant, and the high leverage has been mostly washed out, so there should be a rebound later.
On the 4-hour chart, two large bearish candles came down, and the Bollinger Bands have not fully opened yet, indicating a slight rebound. After the U.S. stock market closes, it is estimated that there will be a bounce.
Trading Suggestions:
For Bitcoin, consider lightly buying around 103000, aiming for 105000.
For Ethereum, consider buying around 2415, aiming for 2520.
