June 5 Morning Analysis:

Last night’s market review: Bitcoin quickly rebounded after touching the key support level of 104350 in a volatile decline; Ethereum continued its correction trend, dipping to around 2596. As predicted in yesterday's evening strategy, real investors who followed the operations reaped significant rewards.

From the current market observation, both bulls and bears are engaged in a tug-of-war, with the candlestick chart displaying an alternating pattern of bullish and bearish movements. On the daily level, consecutive bearish candles paired with frequently appearing doji patterns indicate that the market is undergoing a regular consolidation phase.

Looking at the 4-hour candlestick chart, the market trend has undergone significant changes. Previously, prices fluctuated orderly within an upward channel formed by the upper and middle Bollinger Bands, with each touch of the upper band triggering a technical correction, and support being found near the middle band. However, this pattern has now been broken, and the market is fiercely contesting around the middle Bollinger Band. It is noteworthy that the price has repeatedly formed alternating bullish and bearish candlestick combinations near the middle band, and during the most recent dip to the middle band, a long lower shadow hammer candlestick was formed, highlighting strong buying power at the key support level.

However, the current market is highly volatile, and both bullish and bearish forces are evenly matched. It is crucial to set reasonable stop-loss and take-profit levels when trading. Stop-loss can help control risk when the market diverges from expectations, while take-profit ensures that profits are secured, allowing traders to grasp market rhythm and move forward steadily.

Bitcoin: Buy around 104400, target 105500-106000

Ethereum: Buy around 2595, target 2640-2670

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