Analysis of the Bitcoin market on June 5th.

Currently, the Bitcoin market is experiencing fluctuations in a downward consolidation phase, but the extent of the decline is small, and the market direction remains unclear. Meanwhile, the trading volume shows a decrease, indicating insufficient momentum, and market participants' sentiment tends to be cautious. From the current four-hour structure, Bitcoin bulls are decreasing in volume, MACD is gradually forming a death cross and moving downwards, while KDJ is gradually crossing upwards. On the one-hour level, Bitcoin bears are decreasing in volume and touching the mid-line. In the short term, the market may continue to fluctuate between the resistance level of 105900 and the support level of 104100. As the short-term moving average (MA7) has turned downwards and is approaching the long-term moving average (MA30), there is a possibility of further testing the support downwards, so caution is needed regarding the key support level. At the same time, any local rebounds should be monitored for accompanying volume; otherwise, the strength of the rebound may be difficult to sustain. The strategy in the early morning is still to choose to enter short positions; the strategy suggestions are for reference only, as the market changes rapidly. Regardless of how confident you are in market judgment, always set proper take-profit and stop-loss levels; profit in a range brings safety.

Bitcoin: Short near 105500-106000, target at 104500-102500, stop loss at 106500.

Ethereum: Short near 2660-2680, target at 2570, stop loss at 2710.