June 1st, Sunday Bitcoin Latest Market Analysis

Three consecutive days of hitting new lows! Our previously set high short strategy has achieved nearly 7000 points in profit, and we are currently at a critical decision point! The market has continuously hit new lows for three days, totaling up to 16 times. During this period, our preemptive high short strategy has shown remarkable results, earning nearly 7000 points. However, the current level has caused some traders to hesitate in their short selling operations. Nevertheless, this is precisely a key juncture, and excessive caution may lead to missed profit opportunities; it may be difficult to enter the market later.

Yesterday, the market experienced a slight rebound, with prices climbing from around 103200 to 104800, followed by a period of fluctuation. From a structural analysis, there are a few key points to pay attention to: the weekly chart is currently undergoing its first pullback after a significant breakout, and market trends will not simply develop in one direction; after a certain level of increase, a correction is inevitable. The midnight price surge allowed Bitcoin to reach the previous drop point and bottleneck line. Moreover, from the daily chart perspective, the moving average indicators are deviating too far, and the market is likely to shift to a fluctuating rhythm. The lower channel has opened, but the moving averages have not turned upward; the trend of short selling volume turning down is even more evident, and prices are continuously probing lower, waiting for further breakthroughs from the bears.

Chasing shorts at the current level does require some courage, but if one is overly fixated on waiting for a break below the previous low before shorting, they may very well miss the best entry opportunity. Additionally, I remind everyone that when setting up short-term long positions to catch rebounds, it's essential to set stop-loss orders strictly; all trading operations should be reasonably controlled based on individual risk tolerance and position situation.

Operational Suggestions

- Aggressive traders: Consider going long near 104300 for a short-term trade, targeting around 105500.

- Short strategy: The bears still dominate the market; consider shorting near 104800 - 105600, targeting first at 103000, and after breaking this point, continue to look towards 98000.