6.28 Midday Analysis

From a technical perspective, the 1-hour candlestick chart has formed a flat top structure, indicating that the highest points of the candlesticks are close together, which suggests strong selling pressure above and multiple failed attempts to break through. Meanwhile, the MACD has formed a death cross below the zero line, indicating that downward momentum is increasing, while the RSI has fallen below the 50 midline, showing a weakening short-term trend for Bitcoin. These technical indicators collectively validate the downside risk for Bitcoin. Although it is currently above the EMA52, the main force continues to reduce positions, which may lead to further pullbacks.

From a broader technical analysis, Bitcoin has opened a parallel downward channel, with the strongest resistance gap formed at 109000 from three high points, and the gap from three low points has dropped to around 102000. The overall trend support of the trumpet shape has further decreased to around 98000, indicating a bearish overall trend.

Operational Suggestions

Bitcoin: Can short around 107800-108500, target: around 105000-102000

Ethereum: Short around 2480-2550, target around 2380-2200.