6.9 Monday, Bitcoin Latest Market Analysis

The market was mostly in a consolidation phase on Sunday. After Bitcoin rebounded to a high point of 105878 in the morning, it faced downward pressure, resulting in a back-and-forth between bulls and bears. In the evening, Bitcoin pulled back to a low point of 104927. Ethereum also rebounded to a high point of 2545 in the morning but similarly adjusted downwards during the day, currently pulling back to a low point of 2483. Both bulls and bears have room to maneuver!

On the 4-hour level, after the step-wise rebound faced resistance at the upper track, it transitioned into high-level fluctuations, slowing down the upward momentum of the bulls, while also further adjusting local indicators to build momentum. The hourly Bollinger Bands are beginning to narrow, and short-term fluctuations cannot be ruled out. However, since the short-term rebound high has been confirmed and the rebound strength has weakened, short-term operations should still focus on bears for downward adjustments before following up with subsequent bull positions.

Operational Suggestions:

On Monday morning, Bitcoin can be shorted near 105800, with the target initially focusing on 104000-103500.

Ethereum can be shorted near 2540-2520, with the target initially focusing on 2450-2400.