6.16 Afternoon Bitcoin Market Analysis
Last week, Bitcoin (Big Cake) surged strongly to $110,000. Current key signals in the market indicate a large number of trapped investors in the 1080 - 1090 range. Once the price approaches this range, trapped investors may sell to break even, creating downward pressure. At the same time, the market has a consensus expectation for the $110,000 level, which may lead to an early exhaustion of bullish forces, making it difficult to maintain a breakthrough in the short term.
It is expected that when the price rises to the 1080 - 1090 range, the battle between bulls and bears will intensify, with a high probability of sideways consolidation to digest selling pressure and accumulate momentum for a breakthrough.
Trading advice: If it breaks above around 1075, look towards 1085 - 1090; if a significant drop occurs, consider going short, targeting 1065 - 1050. Ethereum (Ether) can attempt to short in the 2630 - 2650 range.
