🚨6/1 Morning BTC/ETH Market Update🚨
🔶 Yesterday, there was no update as the article took a day off. On the 30th, we mentioned going long around Ethereum 2558. Subsequently, after accurately entering the position, it reached around 2650, during which there was considerable profit space. As for the subsequent decline, everyone should know that a group of inexperienced players has taken charge of the market regarding tariff issues, and we cannot influence this. Many long positions also had significant profits and exited early. In fact, it hasn't been very suitable for trading recently; news-driven markets are not easy to control, and key decisions feel quite childish, like a child playing house.
🔶 The value of $ETH has dropped below 2500, with a minimum reaching around 2480 yesterday. This area currently has some support, but I do not recommend going long directly, as the risk is very high. The price has already fallen below the bullish cloud, with resistance above around 2520 and 2550. The key levels to focus on are around 2418 and 2354. Personally, I believe that regardless of whether the subsequent news-driven trends continue to decline, at least these two levels will see a certain degree of rebound. One could consider risking a long position here and then reduce the position near 2520 to protect capital before attempting again near 2814, managing the resistance levels in between by either reducing the position or exiting!
🔶 For $BTC , I still suggest waiting for further pullbacks before participating in low longs. We can look at getting involved around 102650 and 101888 for low longs, aiming to reduce the position around 104800 to protect capital before trying again near 106800 and 114390. Of course, during this time, one can take profits at the resistance levels as they see fit.
⚠️ It is important to note that if it effectively drops below, we might see Bitcoin around 100,000 this month, or even dip below the 90,000 range. So everyone should control their positions carefully before taking risks!
⚠️ The entry and exit points mentioned above have a deviation of ±100 points for Bitcoin and ±5 points for Ethereum. The above is purely a personal opinion for reference only and should not be taken as investment advice; profit and loss are at your own risk.
