Wednesday Morning Thoughts on June 18

The midnight Bitcoin continues the thought as it falls back to around 103300 for support, then rebounds to around 105200, later falling back to the range of 104200-104700 for oscillation. Currently, it is oscillating around 104500.

Overall, Bitcoin is showing a downward trend, gradually declining from the high. Although it found support at 103300 and made a rebound, it is currently forming oscillation around 104000.

In the short term, although the downward momentum has weakened, the rebound strength is also limited. Only a breakout above 106000 with increased volume would suggest a further rebound; otherwise, it may continue to test the lower support.

For upward strength, the thought is that for the rebound of Bitcoin, it could bounce back in the range of 105600-106000, looking towards 104100-103200.

For Ethereum, the rebound could be around 2550-2580, looking towards 2480-2430.