The cryptocurrency market has recently exhibited concerning technical patterns, with Bitcoin failing to effectively break through the resistance above after three days of fluctuations. The bearish belt hold on June 17 may indicate that institutional funds have exited early, leaving retail investors facing potential risks.

Observing the market performance of Bitcoin (BTC), the current so-called support rebound may just be a temporary pause in the downward trend. The support in the 10300-10400 range appears weak, and if breached, the price could quickly drop to the 10100 level. At the same time, there is significant selling pressure in the 10500-10600 area, and every rebound may become an opportunity to exit.

The situation of Ethereum ( ETH ) is also worth noting. The so-called support range of 2500-2450 shows weak rebounds, and a breakdown after a long period of sideways consolidation often accompanies a more severe decline. There seems to be a clear price manipulation pattern in the market: when the price rises to 2560-2580, it encounters selling pressure, while a brief rally occurs when it drops to around 2450. This pattern is extremely unfavorable for contract traders.

From a technical indicator perspective, risks are accumulating: the Bitcoin daily MACD death cross signal is expanding, and the Ethereum weekly RSI is showing a top divergence, both of which are potential warning signals for a correction.

In light of the current market situation, investors holding spot positions may need to consider setting stop-loss orders around BTC 10350 or ETH 2480 to control potential losses. Traders should exercise caution and avoid premature bottom-fishing, at least waiting for BTC to drop to the 9800 area or ETH to the 2300 area before reassessing the entry timing.

It is worth noting that the market may experience a bullish trap, such as BTC briefly breaking through 10600 and then sharply falling, even dropping below the 10000 round number. External risk factors, such as a significant drop in the US stock market, may also trigger a chain reaction in the crypto market. The only positive scenario is if BTC can break through 10800 with volume within 24 hours or if ETH breaks through 2650, which may change the current downtrend.

Short-term focus targets include the performance of PAY, ETH, FUN, and BCH, which may show special trends in the upcoming market fluctuations.