Tuesday, June 3rd, Weak Rebound Continues in the Evening

The large pancake (Bitcoin) sharply declined after a round of rebound in the morning, touching the resistance area of 106,500, dropping straight down to the short-term low of around 104,800, resulting in a short-term decline of 1,700 points. The early morning sell signal at 106,500 for the pancake played out as expected, reaffirming the bearish outlook. After the decline, a consolidation adjustment formed, and if there is no effective rebound in the evening, the bearish outlook remains unchanged.

Currently, the 4-hour chart is still in a weak downward trend, with the overall movement relatively weak. Although there was a rebound in the short term, its continuation is relatively small, and the trend still leans towards a bearish formation. The hourly chart shows a tendency for oscillating upward movement. In the evening, attention can be paid to the previous support area of 106,500 as a defense level, continuing to oscillate below 06500.

On Tuesday evening, it is recommended to short the pancake at 105,600-105,800, aiming for targets around 104,000-10200.

On Tuesday evening, it is recommended to short Ethereum at 2,620-2,630, aiming for targets around 2,450-2,300.