On the 4-hour chart, BTC has seen three consecutive bearish candles and is trending downward, with the Bollinger Bands converging. Moving averages and indicators are in a bearish alignment. The MACD is forming a death cross above the zero line with expanding red bars, confirming a clear downtrend. On the 1-hour chart, BTC saw a slight rebound after breaking below the lower band, but the momentum is insufficient. The market is likely to see range-bound corrections on Saturday, and the downward channel remains open.
Trading suggestions: BTC: Short near 89,500, target 87,500 ETH: Short near 3,030, target 2,900
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Morning analysis for June 12:
On the 4-hour chart, BTC has seen three consecutive bearish candles and is trending downward, with the Bollinger Bands converging. Moving averages and indicators are in a bearish alignment. The MACD is forming a death cross above the zero line with expanding red bars, confirming a clear downtrend. On the 1-hour chart, BTC saw a slight rebound after breaking below the lower band, but the momentum is insufficient. The market is likely to see range-bound corrections on Saturday, and the downward channel remains open.
Trading suggestions:
BTC: Short near 89,500, target 87,500
ETH: Short near 3,030, target 2,900
$BTC $GUSD $ETH
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