6.25 Zhiming Morning Analysis and Suggestions
Last night, the market performed steadily, with limited fluctuations in price, and the overall price trend continued to oscillate within the established range. Yesterday, Bitcoin's trend showed an overall upward oscillation, with prices maintaining a sideways consolidation throughout the day. During this period, there were three attempts to test the high points, but no significant pullback occurred, indicating that the current rebound trend has not yet ended.
From the perspective of daily chart price movements, the K-line continues to maintain a wide oscillation trend. After the upward movement on the previous day, the current price has successfully stabilized above the middle band of the Bollinger Bands. However, it is worth noting that the bullish K-lines frequently close with long lower shadows, indicating fierce competition between support and buying power below, which suggests potential risks of a technical pullback in the market. Meanwhile, the battle for dominance in the upper shadow area is relatively mild, with significant price pressure and insufficient upward breaking momentum for bulls. On the four-hour chart, the price constantly hovers near the upper band of the Bollinger Bands. Behind the continuous bullish K-line formations, each bullish line is accompanied by a long upper shadow, reflecting strong selling pressure above. After a significant previous surge, a large amount of profit-taking has accumulated at key resistance levels, leading to a dramatic increase in selling pressure, and the release speed of bullish volume has clearly slowed down. In the morning operations, we should continue to maintain a short-term view of space consolidation, primarily focusing on low-buy operations.
Zhiming's Suggestions
Bitcoin around 105000-105400, looking at 106500-107000
Ethereum around 2400-2420, looking at 2460-2480
