6.9 Bitcoin Ethereum Morning Market Analysis and Trading Suggestions

Yesterday, Bitcoin rebounded after a pullback, touching a low of 105,000 before bouncing back. The price has been on an upward trend since the rebound and has not shown significant pullbacks. During the early hours, the price also exhibited an upward trend. It reached a peak of 106,400, and currently, there is a slight pullback.

From the four-hour chart, the price did not reach the bottom during the downtrend, indicating a potential upward correction. The moving averages are showing signs of turning up after a period of consolidation, and the short-term correction has achieved a substantial transition. The upward running channel is preliminarily opened, and the price is gradually recovering along the middle track. It has stabilized above the middle track, and after the bearish volume was released, there was a quick decrease in volume converting to bullish. Although there seems to be a pullback and consolidation in the short term, the upward channel space remains to be released. Today, our strategy remains unchanged, looking for a pullback before entering long positions.

Trading Suggestion: Short Bitcoin around the current price of 105,900-106,200, targeting 104,600-104,300 for a long position, with a target aimed at above 106,800.

Ethereum Trading Suggestion: Short around 2,500, with a target of 2,400-2,375 for a long position.