6.11 Wednesday Night Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the afternoon, the weak trend from the morning continued, showing a clear downward fluctuation. Bitcoin dipped to a low around 109133, receiving brief support. Ethereum experienced a quick rebound to around 2801 before swiftly retreating, hitting a low of around 2753. Xiaoge accurately predicted the market trend again, successfully capturing good short-term space. The Bitcoin short position strategy established at the high of 110100 in the morning was closed at 109250, successfully gaining 850 points of space. For Ethereum, a decisive short position was established near 2798, ultimately closing for profit at 2761, achieving a steady gain of 37 points of space.

From the 4-hour perspective, although the current price remains above the middle band of the Bollinger Bands, the overall trend still shows signs of weakness. The Bollinger Bands channel is visibly narrowing, with the distance between the upper and lower bands continuously contracting, suggesting that the short-term market may continue to display a weak oscillating pattern. Recently, trading volume has gradually shrunk, in conjunction with the narrowing of the Bollinger Bands, indicating that the market is in a consolidation phase. Given the significant volatility expected from the CPI data to be released tonight, aggressive investors may consider placing short positions after a slight price rebound; while conservative investors are advised to wait for the data to be released, looking for high shorts in the evening.

Bitcoin: Short near 109500-109900, short-term target 107500

Ethereum: Short near 2780-2800, short-term target 2680