6.16 Initial Afternoon Thought Analysis
In the short term, although the overall trend indicates that the market is in an upward channel, on the 4-hour level, the price of Bitcoin continues to rise. Meanwhile, the MACD indicator's histogram is continuously shrinking, which means that bullish momentum is accelerating its decline;
The KDJ indicator has formed a death cross in the overbought area, releasing a strong reversal signal. Comprehensive assessment shows significant downward pressure in the market in the short term.
Operational Suggestions
Bitcoin: Short at 106800-107400, target 104500-105500
Ethereum: Short at 2590-2610, target 2500-2550