🗾6.11 Afternoon Market Insights.🗾
$BTC Insights:
Are many of you waiting for a deep correction in Bitcoin? Keep waiting! The more you want Bitcoin to correct, the less it will. Corrections always appear unexpectedly, catching you off guard.
Bitcoin broke through with volume at 109807, and the hourly closing price is above 109807, so go long on the right side, with a stop loss if it breaks.
108916 broke down with volume and could not recover, so go short on the right side, with a stop loss if it recovers. Pay attention to changes in volume, and set a proper stop loss.
At 107772, there was a false breakdown; recover lightly with one more long position. If it breaks below 106702, set a stop loss; if it doesn't recover, don't go long.
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If Bitcoin stabilizes above 109931, it will continue to challenge 110424-111138, but currently, the upward momentum in Bitcoin is insufficient.
For shorts, be cautious as a 2b false breakout appears above Bitcoin at 110462, short one position, with a stop loss if it stabilizes above 111182.
Conservative players wait: buy at 105951, with a stop loss if it breaks below 105277.
Bitcoin attempted to challenge the previous hourly high again early this morning, but still couldn't succeed. If Bitcoin is to form a double top, it must break below the neckline marked in the chart; only then can the double top pattern be established, which may lead to a correction. A breakthrough of the previous high fails the double top pattern.
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Resistance above: 109898-110382-111138
Support below: 109326-108447-106828
On the 4-hour level, breaking below 109171 looks down to 108259-106816; Bitcoin is still fluctuating during the day.
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$ETH Thoughts:
For Ethereum, break through 2787 with volume and go long on the right side, with a stop loss if it recovers.
2763 broke down with volume; go short on the right side, with a proper stop loss.
Pull back to 2726 to confirm support is valid; add one more long position, with a stop loss if it breaks below 2698.
For Ethereum on the hourly level, stabilize after breaking through 2797, looking up to 2850-2890.
Watch for a light short position at 2850 to test the strength, with a stop loss if it stabilizes above 2890.
Left side orders: buy at 2655, with a stop loss if it breaks below 2620.
Resistance above: 2803-2850-2893
Support below: 2753-2728-2688
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On the 4-hour level, breaking below 2729 looks down to 2689-2653.
Continuing with the chart: Ethereum's hourly highs and lows are continually rising; it is not suitable to short until a lower low appears. If you want to short, focus on shorting briefly, and do not overextend. Bitcoin's high-level consolidation will allow Ethereum to continue to catch up. Meeting adjourned.