Cryptocurrency Scholar: Bitcoin and Ethereum Enter Sideways Mode on Weekend of June 15, Steady Investors Take a Break!
As of the time of writing, the current price of Bitcoin is 104700. Yesterday's article mentioned that the pressure level above 106000 was not broken, and the price has moved downwards. Currently, the daily candlestick chart shows a high of 106250 and a low of 104350, having moved out over a thousand points. Don't rush; it's not over yet. The EMA30 trend has first lost the 105000 level. Since it's the weekend, I won't write too much. Focus on the daily Bollinger Bands lower support at 101500. The four-hour trend shows the bearish sentiment most clearly; after reaching the pressure level, it has pulled back down. The Bollinger Bands lower support at 103100 can serve as a short-term rebound point. If it further dips down, there’s a high chance it will continue to drop. Cryptocurrency friends who are short can take profits in batches to lock in gains. Those who haven't entered can continue to observe. Once it approaches the key support near the 100000 level, they can consider opening long positions. Alternatively, wait for a stretch towards the pressure level around 106000 before opening short positions.
Intraday reference levels:
If the upper level of 106000 to 106400 does not break, go short with a target of 105500 to 105000. If broken, look at 104500 to 104000, stop loss at 300 points.
If the upper level of 106000 to 106400 breaks, go long with a target of 107000 to 107500. If broken, look at 108000 to 108500, stop loss at 300 points.
Ethereum
As of the time of writing, the current price of Ethereum is 2510. The daily candlestick chart shows a high of 2580 and a low of 2485. The three crows pattern from yesterday has provided a valid downward strategy with a pressure level of 2580. Currently, the four consecutive bearish candles have broken the EMA30 trend support at 2520. Watch for the next key support at 2375 and the Bollinger Bands lower support at 2400. The four-hour candlestick chart is sideways, and since it's the weekend, the short-term cycle is likely to be sluggish. Therefore, cryptocurrency friends who have not entered basically have no significant operational space today and can continue to rest. Those who are already in can expect a small range of correction if the price does not break the 2500 level, and can consider taking profits before re-entering at higher levels. Also, watch for short-term support at 2400 and medium-term support at 2370.
Intraday reference levels:
If the upper level of 2580 to 2610 does not break, go short with a target of 2550 to 2500. If broken, look at 2450, stop loss at 30 points.
If the upper level of 2580 to 2610 breaks, go long with a target of 2650 to 2700. If broken, look at 2750, stop loss at 30 points.
Operations should be based on real-time market data. For more information, please consult the author. The publication of articles may be delayed; advice is for reference only, and the risk is borne by the reader.