As of June 23rd, Bitcoin prices are hovering around the 99600 range. The technical indicators show that the downward trend is still ongoing, and the market is shrouded in strong bearish sentiment. Currently, Bitcoin continues to operate below both the short-term and long-term MAs, which is a typical characteristic of the previously mentioned accelerated decline pattern. At the same time, the Trading Volume has significantly increased, indicating active market trading, but the selling pressure is dominant.
On the Ethereum side, the price is around 2190. A deeper analysis shows that the current trend is overall in a weak state. After dropping from a high of 2278, Ethereum is currently hovering around 2180, with the possibility of further decline in the short term.
Based on the current market conditions, the trading recommendations are as follows: Bitcoin: Consider shorting in the range of 101000-102200, with target levels around 98800-98000. Ethereum: Consider shorting in the 2220-2260 range, with target levels around 2150-2110.
The market is highly volatile, and investors should manage risks appropriately and control their positions.
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As of June 23rd, Bitcoin prices are hovering around the 99600 range. The technical indicators show that the downward trend is still ongoing, and the market is shrouded in strong bearish sentiment. Currently, Bitcoin continues to operate below both the short-term and long-term MAs, which is a typical characteristic of the previously mentioned accelerated decline pattern. At the same time, the Trading Volume has significantly increased, indicating active market trading, but the selling pressure is dominant.
On the Ethereum side, the price is around 2190. A deeper analysis shows that the current trend is overall in a weak state. After dropping from a high of 2278, Ethereum is currently hovering around 2180, with the possibility of further decline in the short term.
Based on the current market conditions, the trading recommendations are as follows:
Bitcoin: Consider shorting in the range of 101000-102200, with target levels around 98800-98000.
Ethereum: Consider shorting in the 2220-2260 range, with target levels around 2150-2110.
The market is highly volatile, and investors should manage risks appropriately and control their positions.