Cryptocurrency Market Analysis: Bitcoin's Trading Volume Mysteriously Shrinks on June 3! Ethereum’s ‘Morning Star’ Actually a Will-o'-the-wisp? Latest Market Analysis
Cryptocurrency Market Analysis on Bitcoin for June 3
Article Published on June 3, 2025 ---- 0:10
Current Bitcoin Price 104,400, the market trend remains a downward shift, with the K-line entangled near the short-term and medium-term moving averages, but overall downward pressure is significant. Therefore, the analysis suggests a cautious market sentiment in the short term. Although the overall trading volume is low and shows weakness, the expansion of the green momentum bars in the MACD indicator and the downward pressure from the short-term moving averages indicate that bearish forces are dominant. Considering the K-line patterns, a Morning Star pattern and a Bullish Engulfing pattern have recently appeared, which may lead to a brief rebound. However, from a broader perspective, the height of the rebound is limited, and in the long term, the continued downward trend and the gradual flattening of the long-term moving averages suggest a bearish outlook. Therefore, it is advised to either hold cash positions or for those considering entering the market to wait for further confirmation of bottoming signals. Currently, it is not recommended to take risks in chasing long positions during this weakening trend. For those who already hold long positions, short-term rebound scenarios should be monitored.
Today's Price Reference:
Long Entry at 103,000, Stop Loss 102,500, Target 105,500
Short Entry at 106,000, Stop Loss 106,500, Target 104,000
Ethereum Latest Market Analysis
Prior to publication, the current price of Ethereum is 2,540, with a clear downward trend in the market, which is not worth elaborating on. In the short term, the market is in a phase of periodic upward rebounds. Patterns such as Morning Star and Head and Shoulders Bottom, along with recent price increases, have strengthened rebound expectations. However, overall momentum remains weak, and the future trend needs to focus on whether it can break through key resistance levels and maintain increased volume. Therefore, it is suggested to attempt light buying on short trades, and for swing trading, one could follow the trend with long positions while considering defensive strategies to avoid potential downward swings.
Short-term Strategy Reference:
Long Entry at 2,450, Stop Loss 2,400, Target 2,550
Short Entry at 2,600, Stop Loss 2,650, Target 2,500
The above is a brief analysis by the market expert on the current market conditions for investors' reference.
