6.25 Early Morning Thoughts on Tuesday's Market Have Concluded.
Reviewing the all-day trend, Bitcoin initiated an upward movement last night, and by this morning's trading session, the price reached a high of 106,050 before encountering strong resistance, leading to a technical pullback. During the daytime trading session, Bitcoin entered a narrow fluctuation pattern, with the overall volatility range locked between 105,000 and 106,000 USD. Although there was a brief breakthrough of the 106,000 key level in the evening, the lack of buying pressure prevented an effective breakout, and the price quickly retraced its gains, once again falling below this integer level. In terms of Ethereum, the market exhibited differentiated trends. After the price dipped to a low of 2,374 in the afternoon, market support emerged, leading to a corrective rebound. Entering the evening trading session, Ethereum's price maintained a steady upward trend, with bullish strength gradually released, resulting in a stair-step upward market. Throughout the day, our positioning was also due to the small fluctuations in the market, with relatively more short-term trades; Bitcoin had a total gain of 3,135 points during the day, while Ethereum had a total gain of 64 points.
From the current technical formation of the market, Bitcoin's daily candlestick formed a long lower shadow bullish candle, which often suggests a risk of a technical pullback in the short term. Although the price briefly broke through the 106,000 key psychological level, it lacked sustained upward momentum, leading to a subsequent retracement. Switching to the hourly timeframe, although the price quickly surged to 106,239 thanks to a single strong bullish candle, there was obvious selling pressure above, and after the surge, it quickly fell back, indicating insufficient bullish momentum before the key resistance level. In the short term, it is crucial to focus on the effectiveness of the resistance at the 106,000 line. If this price level fails to stabilize effectively, a continued pullback trend is expected in the future market. The strategy is to temporarily maintain a high position with a view to waiting for a pullback. At the same time, everyone is reminded to strictly implement stop-loss measures and flexibly adjust positions based on the market to prevent spikes.
Bitcoin can be shorted in the 106,000-105,700 range, looking at around 104,500. Ethereum can be shorted in the 2,450-2,480 range, looking at around 2,390.
