Analysis on the evening of June 3
Currently in a correction cycle, support is forming at the daily MA30 moving average, but it is a weak overlapping pattern at a major support level. Until there is an effective breakthrough and stabilization above 107588, it remains in a downward fluctuation. Additionally, the candlestick has formed a 'three methods of decline' structure, which needs a significant increase in volume to reverse. Four-hour cycle: The movement is primarily fluctuating, with short-term moving averages converging and flattening. In the morning, the market surged to near the MA120 moving average but encountered resistance. Although the MACD indicator is in a significant cycle, the volume remains insufficient, and after encountering resistance, there may be further adjustments.
Suggestions
Bitcoin: Trade in a range of 105600-106400, watch 104000-103000.
Ethereum: Trade in a range of 2640-2680, look at 2550-2490.
