6.26 Early Morning Market Trends
The evening US stock market opened peacefully, with a strong upward movement, and market sentiment was optimistic. But then Old Powell remarked: we are reviewing and withdrawing several previous guidelines on cryptocurrencies. This directly ignited market sentiment, leading to a sharp decline, with Ethereum plummeting nearly 60 points to 2388, followed by Bitcoin starting to pull back nearly a thousand points.
An evening wave of rises followed by a wave of declines left people feeling dizzy. This has increased the difficulty of early morning market trends.
Currently, the hourly MACD is around the horizontal level, while RSI and KDJ show a downward trend, with bulls and bears competing. After the evening breakout above the key resistance level of 108000, the upward space has opened up. If it stabilizes in the early morning, it will maintain an upward trend; conversely, if subsequent news is bearish, there will be another wave of pullback waiting.
In the evening, after reaching 108000, Bitcoin directly took profits and exited, avoiding the market’s downturn. The current market is stuck around 107000, and it is expected to undergo a wave of corrective fluctuations, mainly depending on the performance of the closing market in the later night.
In the early morning, the trader continues to buy low with a firm upward outlook.
Bitcoin
106800-107000 target 107500-108000
Ethereum
2380-2400 target 2420-2450
