June 16th early morning Bitcoin/Ethereum market analysis and trading ideas
The daily chart continues to show a wide range of fluctuations. After another plunge in the coin price, the Bollinger Bands have a downward trend, and the downward pressure remains significant. In the subsequent rebound, there is still no effective threat to the middle track, so the focus today will be on the contest for the upper shadow line.
On the four-hour chart, the short-term maintains a range-bound fluctuation, and neither bulls nor bears have shown strong continuation. After the previous pullback formed a nearly parallel low point structure, it is clear that the support level has been lifted. The technical indicators also show a unified upward trend, with bulls slightly favored in the short term. However, the key strong resistance level is between 106000-106500. If it cannot effectively stabilize the market, there is still a risk of testing the lower support level at 104000. Therefore, my personal view in the early morning is to maintain a focus on high short positions.
Bitcoin: 106100-106700 range Watch 105000-104000
Ethereum: 2575-2600 range Watch 2520-2480
