June 24 Early Morning Bitcoin Ethereum Market Analysis and Trading Ideas
Looking back at the afternoon's focus on a bullish strategy, the evening's major coin rebounded to a high of 102613 before facing significant resistance, followed by a downward fluctuation, reaching a low of around 101100. Ethereum's trend followed suit, dropping from a high of 2317 to a low of 2225. We still maintain a bullish strategy in the evening.
From the four-hour chart, the three consecutive bullish candles have stopped, with strong pressure from the middle band of the Bollinger Bands, and the price has entered a retracement phase. Key indicators KDJ and RSI both provide clear downward turning signals, indicating that this rebound has not reversed the overall pattern, and the current market is still dominated by bearish sentiment. From the one-hour chart, the market shows five consecutive bearish candles descending, with bearish momentum continuously being released. After the KDJ indicator formed a dead cross at a high position, it has stabilized and extended downward, further reinforcing the short-term bearish signals. Multiple technical signals resonate, solidifying the bearish trend. We still maintain a bullish strategy in the evening; aggressive traders can lightly test the long side to see the rebound wave, but if it breaks below the 101000 line, it would not be too late to follow the trend.
Major coin range 101000-101500, looking at 99000
Ethereum range 2240-2275, looking at 2180
