June 5th Major Trend Analysis

Today's market greed and fear index is 55, a decrease of 2 points from yesterday's greed index. The market sentiment is currently in a neutral state, and a continuous week of declining greed index indicates that the market is gradually cooling down.

Reviewing yesterday's analysis from Lao Teng, it was clearly stated that the major cryptocurrency would oscillate between 105800 and 104600, with a range of 1200 points. So far, the short position from yesterday has perfectly taken profit, and after a rebound of 900 points on the long side, it has resumed downward movement, with intra-day volatility significantly reduced. The second cryptocurrency has given short positions at 2645 and 2680, which also hit the mark. Targeting precise points.

Currently, although the major cryptocurrency is still oscillating downward, the intra-day volatility is gradually shrinking. The market continues to have low volume. For those sensitive to news, please pay attention to the non-farm payroll data release at 8:30 PM tomorrow and the CPI data release next Wednesday, the 11th. The turning point is likely to appear around next Wednesday. The recent operational direction is still focused on placing short positions at high levels.

Point Analysis

Today's key focus on BTC:

Upper resistance around 105450 to near 10600 as the first and second resistance

Lower support at 104000, down to around 103600 as the first and second support

(The bearish trend continues, focusing on short positions. If the second support is broken, the market may continue to decline. Operate according to the usual rules, placing orders at first and second resistance, with stop-loss set just above the second resistance at around 400 points.)

Today's key focus on the second cryptocurrency: 2645 and 2680 nearby as the first and second resistance

Lower resistance positions at 2595, down to around 2585 as the first and second support

Focus on placing high short orders at high levels. Do not be afraid to forcibly chase shorts. Continue to operate according to the usual rules, placing orders at first and second resistance, with stop-loss set just above the second resistance at around 20 points (can try interval trading with stop-loss placed near 2560).

Summary: According to Lao Teng's personal view, the market may continue to oscillate and wash out in the next couple of days. If the market moves quickly, it will likely follow the trend direction based on tomorrow's non-farm data release, with a small trend rebound over the weekend, and a drop next Monday. If the market moves slowly, it may take at least until around the 11th for the CPI data to boost the trend due to the anticipation of interest rate cuts.