6.18 Afternoon Thoughts
On the 4-hour chart, the three consecutive bearish candlestick pattern at the top has released selling momentum, and after the price dipped to around 103300, forming a long lower shadow, it quickly rebounded, indicating a weakening of short-term bearish strength. It is expected that the market will repair indicators in a fluctuating upward rhythm in the future. On the 1-hour level, the price has established a clear step-like upward structure, with the current low support level perfectly coinciding with the lower Bollinger Band, forming a solid dividing line between bulls and bears. Once the price can stabilize above the middle Bollinger Band, the bullish trend is expected to further strengthen, driving the market to continue its upward movement.
From the overall trend structure, the market has completed several strong pullbacks, and the top-bottom reversal pattern is clearly visible. The current selling pressure is gradually diminishing, and combined with the stop-loss signals after the hourly candlestick has continuously dipped to the lower Bollinger Band, the market is in an oversold recovery phase. Given that there is no one-sided eternal trend in the market, it is advisable to seize this bottoming opportunity and position long orders around key support levels. The afternoon strategy should focus on buying low, while aggressive traders may try to take a small short position!
Bitcoin: Buy near 103800-104300, target around 106000
Ethereum: Buy near 2470-2490, target around 2570
