June 3rd Cryptocurrency Market Analysis: Bitcoin Trading Volume Mysteriously Shrinks, Is Ethereum's 'Morning Star' Actually a Will-o'-the-Wisp?
Bitcoin: Bears Dominate, Short-term Rebound Should Be Viewed with Caution Bitcoin's Current Price 104400, Market Shows a Fluctuating Downward Trend
The K-line is hovering between short-term and mid-term moving averages, with heavy downward pressure, cautious market sentiment, low trading volume, and a weak pattern. The MACD indicator shows an expanding green momentum bar, with short-term moving averages exerting downward pressure, and bearish forces dominating.
Although recent patterns of Morning Star and Bullish Engulfing have appeared, the overall market situation indicates that the current rebound height is limited. In the long term, Bitcoin's downward trend remains unchanged, with long-term moving averages gradually declining. It is recommended that investors who are out of the market or preparing to enter should patiently wait for bottoming signals and avoid risking chasing after longs. Investors who already hold long positions should closely monitor short-term rebounds and adjust their positions accordingly.
Ethereum:
Rebound momentum is weak, focus on key level breakthroughs. Ethereum's Current Price 2540, Market Shows a Clear Downward Fluctuating Trend. In the short term, it is in a stage of fluctuating rebound, with patterns such as Morning Star and Rounded Bottom recently enhancing the rebound expectation, but the overall rebound momentum remains weak. Future trends highly depend on whether key resistance levels can be broken and whether trading volume can continue to expand.
In terms of operational strategy, short-term investors can take small positions to buy low, while swing investors can follow the trend to enter long positions and set stop losses. Investors need to be cautious of potential downward risks and avoid participating in downward swings. Investors focusing on Ethereum should pay attention to the key support level at 2400 and resistance level at 2789. If the price breaks through the resistance level and trading volume significantly increases, positions can be gradually added; if the price falls below the support level, decisive stop losses should be taken, waiting for lower price support to re-enter.
