Morning Thoughts on June 13

Last night, Bitcoin initially rebounded to around 108300 before declining all the way down, reaching a low of around 105600. From a technical structure analysis on the four-hour chart, the Bollinger Bands are opening up, and Bitcoin has broken below the lower Bollinger Band. The MACD momentum is increasing, indicating that there is still room for further decline. From the one-hour chart, Bitcoin has returned to above the lower Bollinger Band, and the momentum is decreasing, so a rebound can be expected in the morning.

Trading Suggestions

Long Bitcoin around 106500 to 106800, with a target of 105500 to 104800.

Long Ethereum around 2670 to 2700, with a target of 2620 to 2580.