Strategy for June 6, 2025

Last night, the market first rose to clear out shorts and then plummeted, leading to a mutual slaughter of both bulls and bears. Bitcoin directly dropped from 105500 to 100500, a decline of 5%! It has currently rebounded to around 102700, and many people's wealth was wiped out overnight. Ethereum plunged directly from around 2630 to 2400, with a drop of up to 10%, and the current price is around 2460, with very weak upward momentum! At 8:30 PM tonight, the non-farm payroll data will be released, and it is another chaotic time.

Today, traders on Wall Street will be relatively cautious about their long and short positions, with most market trends fluctuating between small red and green candles, leaning towards consolidation.

Bitcoin's rebound strength is very strong, relying on the key support level of 101800, it has directly recovered 50% of the decline from the bottom. The bulls remain quite tenacious! The daily level has first broken below the 30-day moving average, and it is a large red candle that has broken through; the moving average system will shift from support to resistance. Tonight’s non-farm data is crucial; if the data is good, it will accelerate the decline, while if the data is poor, there is a chance for a rebound.

Today's operation suggestion: Operate within the range of 101000-103500, with a focus on small-level divergence trends.

Second resistance level: 105900

First resistance level: 103500

First support level: 102000

Second support level: 100000

Ethereum's rebound strength is relatively weak, mainly following Bitcoin's upward rebound. Large capital involvement in Ethereum is not deep, coupled with the recent lack of funds in the Ethereum Foundation and opposition to international scrutiny, it is under significant risk. From a technical perspective, Ethereum has broken through the range support with a large red candle and failed to quickly recover. The trend is very weak, and it is expected to continue facing moving average pressure and form a double bottom to reinforce the 2400 support level. From a higher perspective, the daily level has also first reached the 30-day moving average support, with a temporary stop in decline effect, but the strength of the support needs further observation.

Today's operation suggestion: Focus on range consolidation, short on small-level top divergence, and do not recommend entering long positions.

Second resistance level: 2588

First resistance level: 2529

First support level: 2411

Second support level: 2360

#加密市场回调 #