June 21 Evening Thoughts

From the current 4-hour chart, the price of Bitcoin is operating near the upper side of a descending channel, showing signs of further decline. Last night's sharp drop also broke through the triangular area, indicating a clear downward momentum. However, due to the recent appearance of 'Doji' and 'Bullish Engulfing' patterns, the market may enter a hesitation phase in the short term, and a rebound testing the upper resistance cannot be ruled out. From the indicators, MACD shows that bearish strength still dominates, and the downward trend is expected to continue in the short term.

In summary, the current market is overall in a weak downward state, with support around 102600 below and resistance at 104150 above. If the price cannot rise to 104150 and effectively stabilize within the triangular area, the market will continue to test downward in the evening.

Bitcoin Trading Suggestion: Short at the current price of 103900 or near 104200, with a target around 103200-102900. If it does not break a new low, consider going long.

Ethereum Trading Suggestion: Short at the current price of 2440-2450, with a target around 2410-2400 to consider going long. #BTC