6.24 News Headlines: Massive 'Smoke Bomb' Impacting Currency Prices Significantly!
Whenever the night is quiet and I lie in bed reflecting on my experiences in the cryptocurrency world, those past gains and losses suddenly become less important. The crypto market is like a roller coaster; sometimes it sends you soaring to the clouds, and other times it plunges you into the depths. However, amidst these ups and downs, you'll realize that the growth of your mindset is more important than the numbers in your account.
After hitting a low of 99547 in the early morning, the market began to rebound, benefiting from short-term positive news, with prices rising to 106050. Subsequently, the market entered a phase of consolidation, oscillating around the 105000 line, maintaining a certain range, with significant resistance at the 106000 line above and strong support at 104500 below. Throughout the day, there was no strong breakout.
Technical Analysis Chart:
After the daily candle finished with a solid bullish body, it entered a sideways adjustment, contending around the middle track, currently showing a doji candlestick formation.
On the four-hour chart, the upward momentum of technical indicators is gradually slowing down. After breaking through the upper band, the bullish trend did not continue strongly; following a strong recovery structure, the bullish volume has noticeably decreased. The market remains in a consolidation phase below this level, while the upper Bollinger band pressure is strongly constraining, indicating a need for short-term bullish consolidation and accumulation. Based on the fundamental news, if a retracement leads to a breakout, then a downward trend still exists.
In the short term, the market continues to maintain range consolidation. Long positions can still refer to near 104500 to buy, looking at 106000-107000; for Ethereum, consider buying near 2420, looking at 2480-2500. $BTC
