6.13 Strategy Analysis
Bitcoin experienced a plunge at a key position yesterday. The new tariffs involve products like steel washing machines, refrigerators, and other appliances, combined with Israel's airstrikes on Iran, further exacerbating the tension in the financial markets. Poor economic data, among other factors, directly broke the previous upward trend, leading to a plunge starting at two in the morning. There are signs of weakening in the downward force this morning, with expectations for a rebound from the oversold condition. Let's first observe the strength of the rebound: whether it's a weak rebound followed by a drop to form a support level or a strong V-shaped reversal to repair the bearish area. The previous upward trend has already been disrupted by last night's drop. The downward force is too strong, switching from long to short, with a short-term expectation of testing the 100,000-point level below. Let's see if this area can form a support platform; if the support platform is also broken, it will enter a bearish trend in the short term.
For Bitcoin short contract position, short operations near the resistance level of 105948, take profit near 101430, stop loss at 106748.
For Bitcoin long contract position, short long operations near the support point of 100305, take profit near 103490, stop loss at 99500.
Ethereum initially had a slight pullback to near the moving average with expectations for a rebound, but this rebound was just beginning when it was smashed by bearish news.
The strong support below is around 2380. If there is a rapid drop in the short term, the decline may expand. Even if there is a rebound later, a further drop is expected. Pay attention to whether a strong rebound can occur near the strong support at 2380, which will determine whether the platform continues or breaks down into a downward trend. Recently, there has been a significant drop in the morning session, and participants can wait for a stop-loss signal to participate in the rebound. After that, observe the strength of the rebound. After taking advantage of the rebound, continue with short positions. The destructive power of this negative news is astonishing. Let's see how the institutions plan to repair this. Rapid price fluctuations may occur in the following days. Use stop-loss when not watching the market, as market changes are quick and extreme.
For Ethereum short contract position, short operations near the resistance level of 2600, take profit near 2485, stop loss at 2615.
For Ethereum long contract position, short long operations near the support point of 2400, take profit near 2540, stop loss at 2385.
The views are for reference only; use stop-loss and take-profit. $BTC