The market analysis on the evening of June 12 shows that Bitcoin has officially entered an adjustment period, with a continuous pattern of Bearish lines already formed, and the magnitude of the second bottom clearly deepening. From the 4-hour chart, the short-term downward trend is more apparent, with long Candlestick bodies and short lower wicks, clearly indicating that the bearish forces are dominating, and market selling pressure is significant.

In terms of technical indicators, the Bollinger Bands are showing a downward expansion, indicating that market volatility is increasing, and the bearish momentum has not yet been fully released, with short-term bears still strong. It is worth noting that although the KDJ indicator has entered the oversold zone, the D value is currently hovering around 30 and has not truly bottomed out, suggesting that there may be a demand for a short-term rebound correction in the market. However, to confirm that the market trend has truly reversed, we still need to wait for the KDJ indicator to form a golden cross signal.

In summary, it is recommended that investors adjust their operational thinking, looking for suitable entry opportunities when the market rebounds, while closely monitoring changes in various technical indicators and market volatility. Bitcoin can focus on rebound opportunities in the 106500-107000 range, with an upward target set around 109000.