📣 The trend is experiencing a pullback in the early morning; is it a trap or a trend reversal?

📣 The bullish trend continues, and Bitcoin is expected to break new highs again!

Bitcoin's price showed a strong rebound yesterday morning, but unfortunately, the subsequent price did not stabilize at the 110,000 level, continuing the momentum of this rebound. In the short term, after multiple attempts to test the 110,000 level, bullish sentiment has begun to weaken. Currently, the price is near the high-level consolidation below 110,000, and the market is in a pullback testing support. The short-term upward trend remains unchanged, and the previous decline has been fully recovered.

【Analysis from the four-hour Ethereum price trend】

Candlestick Pattern:

The daily level shows that the recent price quickly rose from the low of 105,318 on June 9 to 110,530. After a slight pullback, it is currently fluctuating around 109,593, forming a short-term high-level consolidation pattern. The four-hour candlestick presents a clear upward trend before entering a sideways adjustment phase, with highs gradually decreasing, while lows have not broken key support.

Technical Indicators:

MACD: In the four-hour cycle, both DIF and DEA are above the zero axis, but the histogram momentum is weakening, indicating a decline in bullish power. The daily level MACD remains strong, with bulls in control.

RSI: The four-hour RSI value has retreated from the overbought zone (77) to around 63, indicating some pullback pressure in the short term; the daily RSI remains in a healthy range, with a bullish trend.

EMA: The current price is running below EMA7 and above EMA30 in the four-hour cycle, while EMA120 is far from the current price, indicating that the short-term trend has shifted to consolidation, while the medium to long-term outlook remains bullish.

Trading Volume:

The daily trading volume saw a significant increase on June 9, followed by a gradual decrease, indicating that market sentiment is becoming cautious. The four-hour trading volume has continued to shrink since June 10, reflecting a strong wait-and-see sentiment in the current market, lacking clear directional breakthrough momentum.

6/11 Bitcoin trading suggestion:

It is recommended to enter long positions around 109,000 in Bitcoin, with target points: 110,000-111,000-112,000.

If it pulls back to around 108,200, continue to add to long positions, with target points: 109,600-110,500!

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