Analysis and Trading Ideas for Bitcoin/Ethereum Market on June 12th
In the evening, Bitcoin once again experienced a surge after fluctuating throughout the afternoon, finally breaking through the 110,000 mark. The current structure is quite clear, as Bitcoin has repeatedly tested the upper resistance level. This time, the breakthrough is also just around the corner. After the breakout, it is highly likely that it will continue the previous bullish trend, entering the second phase of a bull market. Although it is currently at a relatively high position, the overall structure has not shown significant retracement, indicating that the bulls remain strong. It is recommended to continue positioning with long orders and patiently wait for the market to unfold.
In the evening, Ethereum continued to strengthen. From a short-term trend perspective, the price has basically stabilized at the 2800 support level. On the hourly chart, the price is steadily operating above the middle band of the Bollinger Bands, with the candlestick pattern showing a bullish momentum continuing to push upward. The MACD bearish volume is shrinking, and the double lines are turning upward again. The trading idea for the evening can look for a continuation of a rebound.
Bitcoin: Long at 109500-108500, target 111500-112000
Ethereum: Long near 2850-2820, looking at 2880-2930
