Analysis and Trading Ideas for Bitcoin/Ethereum Market on June 18th Early Morning
From the four-hour chart, a steady downward trend structure is evident. Although there are occasional bullish rebounds, the rebound momentum is clearly insufficient to reverse the overall downtrend. Currently, the price has effectively broken below the middle track of the Bollinger Bands, and the Bollinger Bands are continuously opening downward, clearly highlighting the dominance of the bears. At the same time, the buying power in the market is weak, and there is heavy selling pressure above, further intensifying the downward pressure on prices. From the one-hour chart, the unilateral downward trend is more pronounced. The price continues to close in the red and has touched the lower track of the Bollinger Bands, indicating strong bearish strength. Based on recent trend patterns, it is expected that the bearish trend will continue this evening; however, after reaching a temporary low, the market may experience a brief correction. Subsequently, a technical rebound is likely to occur, but after the rebound, it will continue to decline.
Bitcoin: 104500-104000, Target 106500-107000
Ethereum: 2520-2480, Target 2560-2600
