June 3rd Morning Analysis:

Recently, the Bitcoin market has shown a narrow range of fluctuations and a relatively stable trend. The daily price movements over the past few days have demonstrated a rhythm of 'first suppressing and then rising', which is highly consistent with the previously provided strategy direction, validating the effectiveness of the strategy. Investors should pay close attention to the fact that the current market repair process is nearing its end, and it is highly likely to brew a new round of significant volatility.

Since the Bitcoin price effectively broke below the key ascending trend line around $109,000, the market has officially entered a short-term adjustment cycle. The current price continues to fluctuate within the range of $103,000 to $106,000, and this week may become a key time node for determining the direction of the market. If this support range can stabilize effectively, the market is expected to regain upward momentum, initiating a new round of upward movement; conversely, if the support level is lost, the market will face deep correction risks.

From the daily technical analysis perspective, although the current price has temporarily stabilized above the support level of $103,500, the overall trend has shown a bearish dominance, and the price has entered a downward channel. In terms of technical indicators, the MACD indicator shows that the green bars are continuously contracting, but the activity level of capital holdings is increasing; the DIF and DEA dual lines are diverging downward from a high position, gradually approaching the 0 axis. In the Bollinger Bands indicator, the middle track resistance level is at $106,400, and the lower track support level is at $101,600. In terms of operational thinking, focus on the breakthrough situation of the resistance level at $105,800; if it cannot effectively break through, consider placing short positions on rallies.

The four-hour level trend shows that the price has fallen below the key trend indicator, indicating that there is further downward momentum towards previous lows. The MACD indicator continues to expand downward, showing a clear stepped decline pattern; the Bollinger Bands are continuously narrowing, with the upper track resistance level at $105,500 and the lower track support level at $103,300. Before the price breaks through these two key ranges, it is recommended that friends seize the opportunity for range trading.

Big Cake: Short around $106,000 - $106,700, target around $104,000

Second Cake: Short around $2,600 - $2,630, target around $2,520

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