June 17 BTC/ETH Market Morning Report -- Rushing higher again pulls back, the 65,500 level below remains a key threshold
Yesterday, Bitcoin surged to around 66,976, then pulled back to about 65,300, perfectly aligning with yesterday’s short position near 66,800. Ethereum surged to around 1,839 yesterday before starting to retreat to 1,760. The short positions around 1,820–1,850 also had good profit margins. For friends who entered based on yesterday’s strategy, it’s recommended to take partial profits when reaching targets. Take profits promptly when in the money; don’t be too greedy. Preserving profits in this market is more important than anything! Today’s outlook remains unchanged: high short positions.
The Bitcoin daily moving averages are in a bearish arrangement. Recent rebounds only touched the 21-day moving average before falling back again. Without substantial positive news, it’s difficult to break through upward. The four-hour MACD shows a death cross with the fast and slow lines diverging downward. The red energy bars continue to expand, indicating increasing bearish momentum. In plain language: bears currently hold the upper hand. Bulls need to put in more effort to turn the tide. The price is hovering near the middle Bollinger Band. The 65,500 level provides some support; if broken, a new downward space will open. For specific trading, it’s recommended to refer to the resistance levels below for short entries.
Above, resistance levels are around 66,900–67,400–68,500; support levels are near 65,500–64,500–63,200–62,222.
Ethereum’s resistance is around 1,830–1,908; support levels are near 1,750–1,680–1,640–1,580.
The above views are for reference only. Remember to manage risk carefully, trade with a small position size. Entry and exit points may vary: Bitcoin ±100 points, Ethereum #我的Gate交易时刻 ±5 points.