June 10th Bitcoin/Ethereum Market Analysis and Trading Thoughts

Current Market Analysis:

After experiencing three consecutive bearish candles on the four-hour chart, Bitcoin saw a bullish candle breakout, with prices breaching the upper Bollinger Band. However, the MACD histogram has shortened, indicating a weakening bullish momentum, and the KDJ is hovering in the overbought zone without forming a valid golden cross. Although trading volume has rebounded, overall activity has not significantly increased, limiting the upward space. Ethereum correlated with Bitcoin's rally but is constrained by the resistance in the 2720-2750 area, with technical indicators showing signs of high-level consolidation.

Trading Strategy:

Bitcoin:

Key Level: $108,000 is the short-term dividing line for bulls and bears, while $110,000 serves as daily support.

Short Position Opportunities: If the price is pressured in the 110,300-110,800 range, consider a light short position with a target of 108,000-107,000 and a stop-loss at 111,500.

Long Position Opportunities: If it stabilizes after a pullback to the 107,200-106,800 range, consider a low long entry with a target of 109,500.

Ethereum:

Resistance Area: 2720-2750 is the short-term resistance, with 2800 as strong resistance.

Short Position Strategy: If it rebounds to around 2720-2750, consider attempting a short position with a target of 2600 and a stop-loss at 2780.

Long Position Defense: If it pulls back to the 2540-2510 range and stabilizes, consider a low long entry with a target above 2700.

Risk Warning:

The current market has intensified the battle between bulls and bears, and one should be cautious of overbought pullbacks and liquidity changes. It is recommended to build positions in batches and implement strict stop-loss measures, while paying attention to the Federal Reserve's policies and institutional capital movements that may disturb the market.

Opportunities and risks coexist in the crypto circle; remain vigilant and find the right timing is key. I have also discovered a project with short-term explosive growth potential that could double! If you want to keep up, follow me for free sharing!