Analyst Liang Qiu: 6.11 Bitcoin/Ethereum High-Level Consolidation, Cautious About Going Long

Since Bitcoin surged to 110,000, it has been consolidating sideways, with resistance still present and not far from the previous high. Pursuing that possible one or two thousand points of space after the rally seems pointless. Moreover, Bitcoin has repeatedly faced pressure and retreated after rising above 110,000, and there is still short-term pressure. However, the overall trend is indeed strong, with the possibility of a second surge. Ethereum, on the other hand, is even stronger, gradually rising from the low of 2,475 this week, with minimal pullback. Currently, it has retreated near the weekly level of 2,830, but the pullback is not significant. The focus going forward is whether this position can effectively break through and stabilize; once it breaks and stabilizes, the market will likely surge towards the 2,980 mark.

In terms of Bitcoin/Ethereum K-line patterns, the daily level shows that the recent price remains high, forming a large bullish candle before consolidating. It is currently oscillating in a high range. At the 4-hour level, yesterday, there was a significant breakout past the previous resistance level of around 2,700, followed by a rise to near 2,830 before a slight pullback, currently showing a small consolidation. In terms of technical indicators, in the 4-hour cycle, both the DIF and DEA are above the zero axis, but the histogram is gradually shortening, indicating weakening bullish momentum and a need for adjustment. In the daily cycle, DIF and DEA continue to diverge upward, with the bullish trend still dominating. For future pullbacks, watch for support at the lower levels of 106,500 and around 2,680.

Trading suggestions BTC: Enter around 109,600 to 110,000, target near 107,500; ETH: Enter around 2,795 to 2,820, target near 2,720.

[The above analysis and strategies are for reference only; please bear the risk yourself. The article's review and publication may not be timely; please refer to real-time data for specifics.]