June 20 Afternoon Bitcoin/Ethereum Market Analysis and Trading Ideas
The market fluctuated little during the day, with evening oscillations declining to a low of 103900 and around 2483. The afternoon saw a high of 104800 and around 2531. The positions laid out in the early hours captured some space.
The daily chart for Bitcoin shows that the price has been oscillating in the range of 104000-105500 recently, overall presenting a weak consolidation pattern. On the 4-hour chart, after a long lower shadow on June 19, there was a rebound, but the pressure above is significant. The current candlestick body is relatively small, indicating balanced market forces. The DIF and DEA continue to be below the zero axis, and the histogram has shortened, suggesting that the momentum is weakening but not yet turning strong. The price is running below the EMA7, indicating short-term pressure; the EMA30 and EMA120 have crossed, and the short-term market trend still leans toward oscillation and adjustment. It is recommended to sell high and buy low during the day.
Buy Bitcoin at 104000-103500, target around 104800-105300.
Buy Ethereum at 2505 to 2485, target around 2530-2550.
