Short-term needle insertion to 58400, we remind that the stage of decline has ended, and we will now look at the height of the rebound. After a narrow range of bottom oscillation for a week, the vast majority of people have lost patience. Good news came on the first day of the new moon, with the breakthrough of the Bitcoin downtrend channel and the Ethereum convergence triangle breakthrough.
24/06/25 BTC inserted down to 58400, the stage of decline has ended, and the market is about to start rebounding!
24/06/26 BTC weekly and monthly lines will close, and the daily line returns to the bottom of the box. Will there be a second probing opportunity?
24/06/27 BTC's second probing continues to strengthen, and ETH rebounds again at the bottom of the triangle. Where will the rebound go next?
After Bitcoin's second probing at 60063, it continues to rebound. The 4-hour three waves have completed the breakthrough of 62500, and Ethereum has received support after testing the 3355 line five times, showing its own strength. The greed and fear index rebounds to 53, and the majority of long positions have been liquidated.
Bitcoin: At the opening of the new moon, it is still within the oscillation of the box for 4 months. Despite the current bearish sentiment across the entire network and the spread of retail panic, we have also warned twice near 72000 that there will be a sharp decline. However, returning to the support at the bottom of the box for 4 months is relatively optimistic. On June 25th, we reminded that the stage of decline had ended, and the market was looking at a rebound. We then reminded of the second probing opportunity at 59600-60600 (internal). The weekly technical indicators are relatively sluggish, breaking through the BOLL midline. If it can be regained in the next 2-3 weeks, then it will continue to oscillate within the box of 60000-72000.
The second type of rebound, if it cannot re-stand at the midline, will once again test the support at 58400-60000, and the probability of falling to 44000-50000 is high.
In the short term, the downtrend on the daily and 4-hour charts has been broken, reaching near 63600 at the highest, pulling up more than 3000 points from near 60000. Very few people were able to catch the bottom at 58400, but we clearly reminded of the second probing opportunity near 60000. Although it took a bit long for a week, it was ultimately worth it.
Support: Resistance:
Ethereum: The K-line of Ethereum is a bit complicated, but for friends familiar with naked K-line, it can be seen that the position of the May bullish candle halfway is very crucial. The new moon has basically held, and the weekly BOLL midline has been supported, so we will first look at the strength of the rebound. The daily chart has broken through the convergence triangle, and the 4-hour short-term chart has received support after testing the 3355 line five times.
The Ethereum spot ETF has been speculated due to expectations, and most people are afraid of missing out on sudden surges, while also worrying about Bitcoin's potential large downward swings. The expected approval time has been postponed from July 4th to July 8th.
Support: Resistance:
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