June 30th Bitcoin Ethereum Analysis and Summary

The intraday market has basically completed its movement, with Bitcoin reaching a high of around 108,780 and a low that also hit the support level of around 107,000-106,500. Ethereum followed Bitcoin's trend, reaching around 2,520 before declining to around 2,430. Old Wang didn’t make many moves today, mainly focusing on friends following the trades, only capturing 1,500 points with a loss of 402 points. The weekend's volatile market continues like this; even the most obvious structures cannot withstand the impact of news, so we always need to stay alert. Old Wang has only managed to take some profits from this wave of market movement based on years of on-site experience.

In the daily structure of Bitcoin, after a series of bullish candles, there appears a bearish one, and the lower shadow of the bearish candle is elongated, indicating a rebound trend. In the four-hour structure, the MACD shows a golden cross above the water, and the red momentum bars are continuously increasing, with bearish momentum beginning to show. The RSI technical indicator has also shown an oversold trend, while the Bollinger Bands continue to remain parallel, indicating that the future price fluctuations will still operate within the range. In the one-hour structure, the price has formed an M-top pattern and then declined with consecutive bearish candles. After touching the support level, it rose to near the mid-band. The bullish main force is still trying hard to support the market, but the MACD technical indicator still shows a golden cross below the water, suggesting that bearish momentum is still expanding. In summary, Old Wang believes that the price will continue to experience slight pullbacks before rising again, so Old Wang's overnight strategy is to wait for a pullback before entering long positions.

Trading Suggestions:

Buy Bitcoin near 107,300-106,800, target around 108,200.

Buy Ethereum near 2,460, target around 2,510.