June 11 Afternoon Bitcoin/Ethereum Market Analysis and Trading Thoughts
From the current market perspective, after a single bullish rise on the daily chart, Bitcoin has formed a doji candlestick pattern, and today’s closing is at a high position, indicating a technical pullback correction phase. The doji candlestick has a significant lower shadow, indicating strong resistance below. On the four-hour structure, after breaking through the upper band, it has maintained a wide range of oscillation, indicating a phase of consolidation with back-and-forth between bulls and bears. The large fluctuation has also intensified the force of the washout. Currently, the KDJ is flat and running sideways. Prolonged sideways movement often leads to a drop. In the short term, we are still watching whether the upper level of 111000 can stabilize. For trading, it is suggested to go short at higher levels.
Bitcoin: Short at 110500-111000, look near 107500
Ethereum: Short at 2800-2830, look near 2720
