Evening Analysis on June 18
From the daily level, the last K-line of Bitcoin closed with a downward trend, not only breaking the middle Bollinger Band but also falling below the short-term moving averages. After the market opened today, there was a slight rebound, but it faced resistance and dropped upon reaching the 7-day moving average. Currently, the Bollinger Bands are flattening out and slightly opening, with short-term moving averages running around the middle band, showing a downward trend. From the technical indicators, the MACD fast and slow lines are consistently extending downward, with the volume bars continuously increasing, indicating that the bearish strength is dominating; the KDJ three lines are crossing and diverging downwards; suggesting that the market activity is relatively stable, but the bearish strength has not yet formed an effective counterattack.
Suggestions
Bitcoin: Look for a range around 106300-105500, targeting 104200-103500
Altcoin: Look for a range around 2530-2560, targeting 2480-2440
