June 6th morning BTC/ETH analysis:
Trump and Musk have fallen out, and the crypto market is in a late-night plunge!
Since Trump launched the Beautiful Plan (reducing corporate taxes and government fiscal spending), which correspondingly reduced Tesla's new energy subsidies and increased steel import tariffs, Tesla's revenue has decreased, and Musk has left his position as a White House advisor.
In the early hours of June 6, Trump and Musk started a public feud, revealing each other's shortcomings, ultimately leading to a 7.82% drop in Trump's group stock and a 15% drop in Tesla's stock, which influenced Bitcoin to drop over 6000 points, and Ethereum to drop over 200 points. After a few days of analysis, I noticed the indicators were shifting, and timely changed my strategy to take advantage of the market trends!
Currently, Bitcoin is significantly affected by this turmoil. If there are no news impacts during the day, it is highly likely to undergo a consolidation period. I won't provide a direction today, but will focus on the key positions of 1002 and 1020. If it can stabilize and break through either position at the hourly level, that will indicate a direction. You can trade within this range by selling high and buying low, with a stop loss at 600 points.
Ethereum has also dropped significantly after being strong for so many days, and it can currently move in sync with Bitcoin. The key positions to watch are 2387 and 2446. Trade within this range by selling high and buying low, with a stop loss at 25 points, and wait for the market to establish a direction.
Note the US unemployment rate report at 20:30 tonight, and see how much impact it will have on the market!
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