๐ Market Update | Thursday, June 18, 2026
Hey everyone, it's your friendly neighborhood trader!
The crypto market is flashing red this morning. After hitting a major resistance, BTC is starting a retracement back into the heart of a compression triangle, a sign of indecision nearing its expiry. The bullish wick just grazed the upper limit of this triangle before diving towards the watched support levels.
$BTC
1. Technical Analysis
Bitcoin (BTC)
The price is currently hovering around the base of its compression triangle.
Today's key level: The level that cannot be broken today is set at $63,639.
An upward trend: This support is dynamic and is mechanically rising each day. Tomorrow, it will already be around $64,034, then $64,319 in the following days.
Bullish scenario: Maintaining above this support would preserve the bullish structure initiated since June 7 and hint at a potential technical rebound.
Bearish scenario: Conversely, a validated break of this level would open the door for a retreat towards $60,077 and would also validate a Bear Flag pattern, extending the previous bearish movement.
Indicators: The RSI is at 37. This low level theoretically allows room for a rebound, but caution is advised as long as the price tests the bottom of the triangle.
Ethereum (ETH)
For Ethereum, the scenario is the same.
Rejected under resistance: ETH was sharply rejected at $1,791 and is returning to test its bullish trend line.
Today's key level: The dynamic support for today is at $1,707.
Break and target: Just like BTC, this line rises each day. It stands as the final defense before retesting $1,692 (the previous neckline of the double bottom that triggered the last rally). A break of this level would also validate a Bear Flag and push ETH towards lower points.
Hey everyone, it's your friendly neighborhood trader!
The crypto market is flashing red this morning. After hitting a major resistance, BTC is starting a retracement back into the heart of a compression triangle, a sign of indecision nearing its expiry. The bullish wick just grazed the upper limit of this triangle before diving towards the watched support levels.
$BTC
1. Technical Analysis
Bitcoin (BTC)
The price is currently hovering around the base of its compression triangle.
Today's key level: The level that cannot be broken today is set at $63,639.
An upward trend: This support is dynamic and is mechanically rising each day. Tomorrow, it will already be around $64,034, then $64,319 in the following days.
Bullish scenario: Maintaining above this support would preserve the bullish structure initiated since June 7 and hint at a potential technical rebound.
Bearish scenario: Conversely, a validated break of this level would open the door for a retreat towards $60,077 and would also validate a Bear Flag pattern, extending the previous bearish movement.
Indicators: The RSI is at 37. This low level theoretically allows room for a rebound, but caution is advised as long as the price tests the bottom of the triangle.
Ethereum (ETH)
For Ethereum, the scenario is the same.
Rejected under resistance: ETH was sharply rejected at $1,791 and is returning to test its bullish trend line.
Today's key level: The dynamic support for today is at $1,707.
Break and target: Just like BTC, this line rises each day. It stands as the final defense before retesting $1,692 (the previous neckline of the double bottom that triggered the last rally). A break of this level would also validate a Bear Flag and push ETH towards lower points.