6.11 Wednesday, Latest Bitcoin Market Analysis

Yesterday, the coin price fell to 108,300 and quickly rebounded, forming a long lower shadow on the 4-hour chart, indicating strong support in this area, currently above 110,000. For Ethereum, it retraced to around 2730 and then started to rebound, peaking at around 2820. The strategy of waiting for a pullback to buy was perfectly fulfilled yesterday. This morning, we continue to maintain the strategy of buying on pullbacks, and in the short term, we can try a small position to go long, first looking for a wave pullback, and waiting to lay out long positions at lower levels.

Although yesterday's market showed a downward trend, this is merely a technical correction, not a trend reversal. If the market continues to rise unilaterally without any pullbacks, the accumulated bearish sentiment will not be released, and there is a risk of a significant downturn later. Only through moderate adjustments to release pressure can the market move upwards more healthily. On the hourly chart, the Bollinger Bands are nearly parallel and diverging. During the midnight period, there were two attempts to test the upper Bollinger Band resistance level, which, although not forming an effective breakout yet, the breakout is only a matter of time. The MACD double lines formed a golden cross above the zero axis, with bullish momentum continuing to be released, maintaining a bullish outlook for the future market. In terms of operations, we can continue to wait for a price pullback to low levels to strategically lay out long positions.

Operation Suggestions:

Bitcoin in the range of 108800-109300, target 111400

Ethereum in the range of 2740-2770, target 2850. #Strategy增持比特币 #看懂K线 #以太坊生态回暖 #币安钱包TGE #纳斯达克加密ETF扩容 $BTC $ETH $XRP