Evening and Early Morning Analysis on June 27
The market performance in the afternoon was poor, with sideways fluctuations. Afterward, the US stock market opened with all three major indices rising. The PCE unexpectedly warmed up, and traders expect the Federal Reserve to start cutting interest rates in September, increasing bets that the Fed will cut rates three times in 2025.
Bitcoin has slightly declined to 106,300, and after Ethereum faced resistance on the upside, it is now moving in tandem with Bitcoin, currently still probing lower. Yumi had previously mentioned that Bitcoin would decline, and after Ethereum completes its short-term rebound, it needs to watch Bitcoin's trend. This evening, it could not move up and was directly pulled back.
Overall, the market is not very volatile at the moment. If the fluctuations continue into the early morning, then the weekend may extend the sideways adjustment, with specific changes needing confirmation on Monday.
If the market continues to fluctuate as it did in the early morning over the past few days, many investors need to be cautious, as short positions dominate in the short term. The candlestick indicators are all favorable for a downward trend. Key support levels to watch in the early morning are 106,000/2,400. If breached, it will continue to probe lower to 105,000/2,350; conversely, it may run in a range-bound manner.
In the evening, Yumi's rebound short entry is currently in the honey-collecting phase. Aggressive traders may look to enter at the current price, while conservative traders may wait for higher positions, keeping an eye on how the market changes. Be mindful of proper position management to guard against early morning volatility.
Bitcoin
Look to short from 106,800-107,000 down to 106,000-105,800
Ethereum
Look to short from 2,430-2,440 down to 2,400-2,380
