Li Shengting: Ethereum Market Analysis and Trading Ideas for June 6th
Review,
On the evening of June 5th, I publicly provided a short-selling strategy for Ethereum near 2660. After a day of fluctuating adjustments, it perfectly reached our target point of around 2550 early this morning, successfully securing a profit of over 110 points. I believe that friends who have been following the articles these days have gained something, which also validates the saying that good things come with challenges.
At the same time, it was mentioned in the analysis early this morning that Ethereum would experience a downward fluctuation. Of course, the reality matched our expectations, with a downward fluctuation taking place. Additionally, Ethereum's low point this morning dropped below 2400. Currently, the MA30 daily moving average has significant selling pressure, and the current coin price is running below the five-day moving average. Now, Ethereum shows a red TD1 downward pattern. If Ethereum effectively stabilizes at the red TD1 level, it will begin to repair the technical gap at the weekly level ahead of time.
From the perspective of the 4-hour technical indicators, the current KDJ, MACD, and BOLL indicators are all in a downward fluctuation phase, while the MA three-day moving averages are all turning downward. The current coin price is also experiencing a technical gap with the MA30 daily moving average. Considering the strong decline early this morning, I personally believe that there may be a technical rebound adjustment around noon. After the adjustment ends, the coin price will continue to decline. Everyone can pay attention to the closing at eight o’clock tonight and the early morning period, as Ethereum will usher in a second decline. The bottom support can be observed in the area of 2263-2187.
Ethereum: Short-sell near 2460-2500 Stop loss: 2567 Target: 2420-2360
Bitcoin: Short-sell near 103500-104000 Stop loss: 105000 Target: 101000
The above is my personal market analysis for noon. Specific points and directional changes are subject to real-time guidance $ETH