Bitcoin/Ethereum Retracement Long Positions Successfully Increased Again

Analyst Liang Qiu: 6.15 Bitcoin/Ethereum Evening Market Analysis

Bitcoin/Ethereum continued to fluctuate sideways over the weekend, with overall volatility not being very large. Currently, the market is once again fluctuating. In the previous article, we mentioned that Bitcoin and Ethereum are focusing on the support lines of 104000 and 2480. We previously positioned ourselves to short at 106000 and 2570. Last night, the price reached 2552 and 106000 during the afternoon, both of which provided good trading opportunities. On the hourly chart, looking at the short term, the Bollinger Bands are in a contracted state, with strong support still present below, but there is also some resistance at 106500 and 2600 above. Tomorrow marks the end of the weekly trading, so it is important to pay attention to the closing situation. If it closes bearish again, the market will continue to weaken and retrace.

In terms of Bitcoin/Ethereum candlestick patterns, the daily level shows that prices have been continuously falling recently, forming multiple bearish candles, presenting an overall weak pattern. In the 4-hour cycle, after a significant drop, the market is currently in a low-level consolidation phase, unable to break through previous highs or lows in the short term. On the technical indicators in the 4-hour cycle, both DIF and DEA are negative and diverging downwards, but there are currently slight signs of convergence, indicating that bearish pressure is weakening but has not yet completely reversed. Currently, the market is fluctuating sideways without breaking through either up or down, but a new direction will likely emerge in the new week.

Evening trading suggestions: BTC: Enter long around 104300 to 104800, target near 106300; ETH: Enter long around 2480 to 2500, target near 2570.

[The above analysis and strategies are for reference only; please bear the risks yourself. The article's review and publication may not be timely, and specifics should be based on real-time conditions.] #MichaelSaylor暗示增持BTC