Bitcoin/Ethereum Market Analysis and Trading Ideas on June 22 Afternoon
The direct involvement of the Americans brought a rather tumultuous weekend. Bitcoin began to decline from Saturday evening, exhibiting an accelerated downward trend in a stair-step manner. Although it rebounded after reaching around 102000 in the early morning, it failed to stop the downtrend and subsequently dipped to a low of 101020. In the morning, the Americans officially announced their direct involvement in the conflict, and the market once again experienced rapid fluctuations, first declining to 100789 and then quickly rebounding to 103362. Currently, it is briefly caught in a phase of oscillation and adjustment. Ethereum also synchronized its drop to a low of 2213 before rebounding.
From the current market perspective, the four-hour level shows that after experiencing three consecutive downward candles and hitting the lower Bollinger Band, the market has shown a two-candle upward rebound. Although the price has warmed back above the lower band with this rebound, the Bollinger Band is still opening downward, and the middle band continues to move downward. The price is also operating within a downward channel. After the MACD indicator's fast and slow lines formed a death cross, they continued to extend downward, showing no signs of a trend reversal. Overall, the trend is still under the control of bears, so our subsequent operations should focus on shorting after the rebound.
Short Bitcoin near 103000, with a target of 101000 for the swing.
Short Ethereum near 2330, with a target of 2250 for the swing.
