6.13 Morning Silk Road

Last night, market selling pressure concentrated and released, with Bitcoin deeply correcting to 1032, while Ethereum concurrently dipped to 2500. After the extreme drop, there is a demand for rebound due to overselling.

The hourly chart for Bitcoin shows the Bollinger Bands opening downward. Although it is under pressure from the upper band, support is beginning to show in the 1030 - 1040 area, with trading volume converging and selling pressure easing, entering a phase of oscillation and recovery.

Ethereum is also weakening, and there are reports of issues at Ethereum's financial company. Fortunately, support at 2500 remains stable, helping Bitcoin observe a rebound from the overselling.

Viewpoint Sharing

Bitcoin: 1025-1030 watch for 1038-1040

Ethereum: 2460-2490 watch for 2600-2650