On June 1st, Sunday, a deep analysis of the latest Bitcoin market trends.
16 new lows in three days! The high short strategy we carefully planned has already yielded nearly 7000 points in profits. Now, the Bitcoin market stands at a critical crossroads, drawing much attention to its future direction.
Over the past three days, Bitcoin's market performance has been extremely sluggish, constantly hitting new lows, accumulating as many as 16 times. However, by accurately grasping market trends, we proactively laid out high short strategies and have successfully profited nearly 7000 points. The current level has left many traders hesitant in their short decisions. Nevertheless, in such moments, it is crucial to remain clear-headed; excessive waiting may cause us to miss the best opportunities, and once missed, the next entry opportunity may become unattainable.
Yesterday, Bitcoin's market experienced a slight rebound, with prices gradually rising from around 103200 to 104800, and then entering a volatile phase. From a technical structure analysis, the current weekly chart is in its first pullback after a significant breakout. The market operates under its own rules; Bitcoin will neither rise consistently in one direction nor continue to climb illogically. When the upward movement becomes so large that it feels unreal, a significant pullback often follows, which investors must be highly vigilant about. Last night, Bitcoin's price surged, reaching previous drop points and resistance line positions. Meanwhile, the daily moving average indicators have deviated too much, indicating a high probability that the market will shift to a volatile rhythm. Currently, the lower channel has opened, but the moving averages have not formed a turning upward trend, while the trend of short volume pointing downwards is becoming increasingly evident. Despite the price seemingly having support, it continues to probe lower, seemingly accumulating strength, waiting for a strong breakthrough from the shorts.
Choosing to chase shorts at the current level indeed requires great courage. However, if you stubbornly wait for a break below the previous low to short, you are likely to miss the best entry point. Here, we especially remind everyone that if you are laying out short-term long positions to catch a rebound, you must strictly set stop-loss levels to keep risks within a reasonable range. All trading decisions should closely align with your own risk tolerance and actual position, to be rational, scientific, and reasonable.
The operational suggestions are as follows
- Aggressive investors: You can try to go long in the short term near 104300, with a target around 105500. Quick in and out, take profits when available.
- Short positions continue to dominate the market: Set short positions near the range of 104800 - 105600, initially targeting 103000. If this level is successfully broken, hold short positions towards a long-term target of 98000, but closely monitor market dynamics and adjust stop-loss and take-profit levels flexibly during this process.