June 13th Morning Analysis
Last night, a large amount of selling pressure emerged in the market, causing Bitcoin (BTC) to drop significantly, reaching a low of $103,213, while Ethereum (ETH) also fell to $2,500. After such a sharp decline, there may be a short-term rebound demand.
Looking at the hourly chart of Bitcoin, the downtrend has not completely reversed, but the area between $103,000 and $104,000 is starting to hold up, and the selling pressure is weakening. It is expected to consolidate for a while.
Ethereum's trend is similarly weak, and there are rumors that a related financial company is facing issues. Fortunately, it has temporarily held at $2,500. It can be observed alongside Bitcoin to see if there are opportunities for a rebound after the sharp drop.
Trading Suggestions
Bitcoin: Buy at $103,500-$104,000, target $105,500-$106,000
Stop loss at $102,800; if it encounters resistance at $106,500 during the rebound, consider a light short position, target $104,500, stop loss at $107,000.
Ethereum: Buy at $2,520-$2,550, target $2,620-$2,650, stop loss at $2,480.
