June 11 Trend Analysis

Today's market greed and fear index is 65, the greed index has risen by 1 point compared to yesterday, the market sentiment has shifted from bullish to neutral and then to greedy, with the majority of people in the market now holding long positions. The total amount of leveraged positions in the market over the last 24 hours is 300 million USD.

Yesterday's analysis mainly discussed two aspects: first, the CPI data coming out tonight at 8:30 PM; second, the prediction that the market would likely go up until the data is released. Yesterday, Bitcoin's price hit support just below 108,500 and rebounded, with the highest rebound being 1,500 points, just shy of reaching the first target position.

Tonight at 8:30 PM, the CPI data will be released, reflecting last month's overall economic situation in the United States and making adjustments accordingly. The impact on expected and published values is illustrated below. Currently, before the news comes out, the overall trend remains unchanged, with strong support still at the range between 108,500 and 107,750. As long as this range is not breached, this defense remains unchanged. The intraday outlook is still the same as yesterday, focusing on defending against fluctuations while aiming for upward movement.

Price Analysis

Today’s key focus is on Bitcoin:

Resistance above at around 110,600 to 111,500 as the first and second resistance levels.

Support below at 108,500 to around 107,750 as the first and second support levels.

(Bitcoin has formed a wedge continuation pattern; as long as the range of 108,500 to 107,750 holds, there is still a possibility of making new highs! Brothers in harmony, my personal suggestion is not to rush into the market, but to wait for the news to be released before looking for opportunities to enter.)

Today’s key focus is on Ethereum: 2830 and around 2860 as the first and second resistance levels.

Support below at 2755 to around 2695 as the first and second support levels.

(Similar to Bitcoin, we should remain patient and not enter blindly; wait for the news to be released before making decisions.)

Summary: My personal view, brothers holding short positions should not act for now; we are currently in a large cycle of significant volatility. Clear news will come out tonight. The possibility of interest rate cuts will determine whether there will be a price surge; if the rate cut is successful in June, we may see 140,000, and if delayed, we may see 100,000. Therefore, it is important to remain calm and not make frequent trades; patiently wait for the news to be released.