Analysis of Thoughts on Early Morning of June 8
From the 4-hour level, the price of Bitcoin rose first and then fell, rebounding after hitting the support of the lower Bollinger Band. This trend fully reflects the significant divergence between the bulls and bears. Meanwhile, the MACD indicator's histogram continues to shrink, indicating a rapid decline in bullish momentum;
The KDJ indicator formed a death cross in the overbought zone, releasing a strong retracement signal. Overall, it is assessed that there is significant downward pressure in the market in the short term.
Operational Suggestions
Bitcoin: Short at 105500-106000, target around 104500-103500
Ethereum: Short near 2520-2550, target around 2430-2480
