6.27 Market Analysis:
The current market presents a typical tug-of-war pattern between bulls and bears. After failing to break through a key resistance level, Bitcoin has formed a consolidation box in the range of 106500-107000. The buying support below has significantly strengthened, but the selling pressure above has not dissipated. The technical analysis shows that the 4-hour level continues in a downward consolidation channel. Although the sudden large bearish candle on the 1-hour level has not formed a continuation of the downtrend, it indicates that the bears still have short-term suppression power. Combined with signs of declining volume, it is expected that the short-term will continue to maintain a range of 106300-107700. Traders should be cautious of false breakout traps.
Ethereum's trend remains highly correlated with Bitcoin, with the 2440-2450 area forming an important resistance zone, while the 2350-2390 area serves as key support. It is crucial to pay attention to Bitcoin's performance around the 107000 level during the day. If it fails to hold, the probability of testing down to 104150 will increase; conversely, if it stabilizes, it may brew a new round of rebound.
Trading Strategy:
Bitcoin: Place short positions in the 107400-107700 range, stop loss at 108200, target in batches at 106300 (hold if it breaks to 104150).
Ethereum: Enter short positions in the 2440-2450 area, stop loss at 2470, target at 2390 (look down to 2340 if it breaks).
The market is continuously changing, and we are closely monitoring it to seize new entry opportunities. Like + comment, let's navigate through the bull market and firmly grasp this major opportunity together.
