Morning Thoughts on June 5th

On the daily chart, the Bitcoin has retreated after consecutive bearish candles and has once again closed positively. In the short term, it is exhibiting a wide-ranging pattern, while in the larger timeframe, it still leans towards bullishness. In the short-term 4-hour chart, the price of the coin has significantly dropped below the lower boundary, forming support in the 935 area and then moving upward with consecutive bullish candles, but the momentum is limited. The price is fluctuating between the middle and lower boundaries. The recent rebound is a normal correction following the decline, so the morning suggestion is to initially take short positions at high levels, and then go long after the drop.

Trading Suggestions

Short Bitcoin near 95500, target 93800

Short Ethereum near 1840, target 1780