A reliable person is someone who provides explanations for everything, has a plan for every matter, and gives feedback on everything. Lao Wang has always been dedicated to the market, and only by persistently writing useful analyses for investors and minimizing mistakes can one truly see a person's heart over time!
On Thursday (June 26), the market remained stable, with investors closely watching whether tensions between Israel and Iran would escalate again, as well as whether the Federal Reserve would issue new signals for interest rate cuts. Risk appetite is currently not strong, but risk aversion is also not strong, as the fragile ceasefire between Israel and Iran seems to be maintained. If inflation remains subdued, this may prompt the Federal Reserve to implement monetary easing policies earlier than expected, which would benefit the cryptocurrency market.
Thoughts on today's market trends!
After fluctuating upwards to around 108000 in the early morning, the Bitcoin price faced pressure and fell. It then fluctuated downward before touching the support level of 107000 in the morning and fluctuated upwards again, reaching an intraday high of 108249. Subsequently, it adjusted around 107500, and bulls began to build strength. In the afternoon, the price broke through the 108000 mark again but did not stabilize, directly falling and fluctuating around 107000. In the evening, the market was not impacted after the opening. Due to news affecting the market, the first quarter actual GDP annualized quarterly rate final value (positive) and initial jobless claims (negative) caused a rapid spike in prices followed by a quick drop, breaking the support level of 106800, until it started rebounding around 106500. The altcoin fluctuated upwards around 2400 in the early morning, reached a high of 2520 at noon, then fluctuated downwards to 2400. From a daily perspective, it is still below the mid-range of the wide fluctuation zone between 2200-2800.
From a technical perspective, the Bitcoin K-line structure forms a V-shape. It has not stabilized above and has not established new support. The K-line has turned from bullish to bearish, forming a top structure. However, according to the MACD and RSI indicators, a death cross has appeared above the 0 axis, while the RSI shows that bullish strength still dominates. From a 4-hour structure view, the K-line bars are continuously moving downwards, the MACD fast and slow lines are converging, and the RSI (6) is gradually declining, indicating that bears dominate in the short term.
From a 4-hour structure perspective, the altcoin is consistent with various technical indicators of Bitcoin, and bears similarly dominate the market. From a 1-hour structure perspective, the Bollinger Bands are in a flat state, and both MACD and RSI indicators show that bearish strength dominates in the short term.
Operation suggestions:
In the short term, we first look for a rebound before entering the market.
Bitcoin target range 107000-107500, with a goal of 106000.
