6.18 Market Analysis
Continuous drawing of doors, high trading difficulty. Reduce trading frequency to minimize wear and tear.
Currently, the market is still in a downward trend (bearish); however, BTC and ETH are both approaching key daily support levels. Will the bulls resist? That remains a question.
There is a fundamental difference between a downward trend and a downward oscillation. A downward oscillation declines slowly, and after the pullback ends, it may continue to rise.
In this downward oscillation process, the interval time between drawing doors is getting shorter, making operations more difficult.
BTC provided an upper level of 107800 yesterday, with an actual high reaching 107727;
ETH provided an upper level of 2611 yesterday, with an actual high reaching 2617.
Currently, this sign increasingly leans towards a 3-wave adjustment, during which there are repeated ups and downs, which easily depletes and consumes capital. At this time, trading frequency should be reduced, and participation should wait until the market establishes a trend.
Today's key focus:
Monitor the ETH daily closing situation, observe whether the 2470 level can hold. This is a crucial support level during the pullback phase. As of yesterday, it has already pulled back 4 times, with an actual reach of 2 times. The more pullback occurrences, the less favorable it becomes. This is not a good trading position; keep a close watch.
BTC: Today, focus on the upper range of 106100~106700, observing the performance of the four-hour K-line at this position, and the strength of bullish and bearish forces.
