On Monday, June 2nd, Bitcoin Weak Market, Rebound Continues

Another new week has begun, the Dragon Boat Festival is over, Children's Day has passed, and the brief gathering with family was quite pleasant. After the holiday, it's time to return to the normal life trajectory. In the weekend market, Bitcoin went through a round of bottom testing and recovery, with the price dropping to around 103,000 before rebounding. It is currently at the 105,800 line. In recent thoughts, the outlook has been consistently bearish, and profits have been made throughout the process. Although there has been a rebound, the weak structure remains unchanged, and the operation continues to maintain a bearish outlook.

From the current daily chart perspective, after a previous unilateral rise, a short-term decline has emerged, forming a continuation that has changed the previous upward structure, resulting in a weakening overall trend. After a series of bearish candles, a brief correction occurred, with the rebound being relatively small, and the weak structure has not effectively changed. It is not advisable to chase after price increases easily. The 4-hour chart shows a fluctuating downward trend, with pressure and pullbacks since the previous breakout high, accompanied by rebounds during the decline, but ultimately still being absorbed by bears. The strength of the next round of rebounds is also relatively small. Therefore, during this second wave downward process, continue with the idea of shorting on rebounds!

On Monday morning, it is suggested to short Bitcoin at 106,200-106,500, targeting 103,000-101,000.

On Monday morning, it is suggested to short Ethereum at 2,560-2,580, targeting 2,450-2,300.