Morning Market Analysis: June 13 - BTC, ETH, XRP, ETC
Bitcoin (BTC) Price Action
After yesterday's failed breakout attempt, Bitcoin continues to trade within a tightening range:
- Current price: $35,775 (from opening at $35,396)
- Early morning rally reached $36,150 before rejection
- Key resistance levels: $36,100 → $36,500 → $37,500
- Critical support zones: $35,200 → $34,600 → $33,800
The compressed hourly chart signals imminent volatility. While bulls demonstrated strength with a nearly $1,000 move, bears quickly reclaimed ground. This equilibrium suggests we're entering a make-or-break consolidation phase.
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BTC Trading Strategy:
- Short opportunity: Enter at $36,500 with 400-point stop loss, targeting $35,700-$35,900
- Long setup: Buy near $35,000 (400-point stop), aiming for $35,600-$35,800
Ethereum (ETH) Technical Outlook
The second-largest crypto shows similar consolidation patterns:
- Current price: $2,387 (high: $2,426 / low: $2,371)
- Resistance structure: $2,410 → $2,450 → $2,470
- Support framework: $2,360 → $2,300 → $2,260
Despite early bullish momentum, ETH faces rejection at higher levels. The alternating forces create ideal conditions for range-bound strategies until a clear breakout materializes.
ETH Trading Plan:
- Short position: Trigger at $2,450 (40-point stop), targeting $2,380-$2,400
- Long play: Enter near $2,300 (40-point stop), eyeing $2,350-$2,370
XRP and ETC Market Updates
Ripple (XRP):
- Current price: $0.836 (high: $0.842)
- Trading strategy favors shorts with resistance at $0.849/$0.860
- Support watches at $0.812/$0.823 for long entries
Ethereum Classic (ETC):
- Consolidating at $55.6 after testing $56.4 resistance
- Bearish bias suggests targeting $54.5/$53.5 supports
- Resistance shorts optimal at $56.4/$57.2
Frequently Asked Questions
Q: Why is Bitcoin struggling to break higher?
A: The $36,500-$37,500 zone represents heavy liquidation territory from previous longs. Until sufficient volume emerges, resistance will likely hold.
Q: What timeframe works best for these range strategies?
A: The 4-hour chart provides optimal signals, but hourly entries offer better risk-reward ratios during consolidation.
Q: When might Ethereum break its current range?
A: Watch for a sustained 4-hour close above $2,470 or below $2,260 to confirm directional bias.
Market conditions remain fluid. Always use stop losses and manage position sizes appropriately.