6.6 Morning Silk Road

Reviewing the early market, Bitcoin faced a significant downward trend after a brief surge last night, hitting a low of 100410, followed by a slight rebound. It is currently oscillating around 101725, clearly showing a downward momentum; Ethereum's performance is synchronized, quickly turning bearish after a rise, dropping below key support, now hovering around 2426.

From a technical perspective, Bitcoin's price is on a downward trend. Although there was a brief rebound, it is a normal correction during a decline. Bearish momentum still dominates the market, and a small rebound is unlikely to change the overall downward trend. The current rebound may be a signal to attract buyers. Ethereum is also weakening alongside Bitcoin, with a clear downward trend and limited rebound strength, while bearish volume continues to accumulate, making it difficult to change the weak pattern in the short term.

Trading Suggestions

Bitcoin: Consider shorting around 102500, with a target of 100800 and a stop-loss at 103000.

Ethereum: Consider shorting around 2460, with a target of 2390 and a stop-loss at 2490.