6.6 News sentiment is weak, Bitcoin and Ethereum show sluggish trends
The evening trend has weakened a bit; it seems that without staying up until the dead of night, it won’t move much. After the non-farm payrolls were released, Bitcoin and Ethereum briefly rose, and the three major U.S. stock indexes opened higher, pushing the market up again. Bitcoin stood around 105,000 in the evening, while Ethereum rose above 2,500.
From a short-term technical analysis of the evening market, the candlestick pattern showed a typical bullish formation (three white soldiers), and the short-term moving average successfully crossed above the long-term moving average, accompanied by gradually increasing trading volume. From the perspective of trading volume, candlestick patterns, and the MACD indicator, short-term bullish momentum has strengthened. However, the current price is still constrained by the downward trend line and has not effectively broken through. When the market reaches a key resistance level, if it can stabilize around 105,000/2,500 during the early morning and effectively increase in volume, the rebound may continue favorably;
If the upward movement is suppressed and falls back, it may retest the support level near 102,000 or even lower. Yumi emphasizes a downward route during the early morning. The short positions established last night can continue to be held while waiting for a price surge, or it may face a waterfall-type rapid decline.
Bitcoin
104,800-105,200 target 102,500-103,000
Ethereum's current hourly Bollinger Bands have stopped and pulled back after reaching the upper band. Currently, the bullish momentum is upward, but there is no clear signal for sustained volume yet.
The upward strength may be constrained by the medium-term moving averages and the overall bearish trend. The short-term upward momentum may be limited. From the daily perspective, the price is still within a descending channel, overall showing a bearish alignment, indicating that the downward trend has not changed. Therefore, Yumi recommends attempting a short-term long position to follow the bullish trend near the resistance level of 2,600, then switching to a short position.
Short Ethereum 2,500-2,520 target 2,400-2,450
