Yueying: Bitcoin and Ethereum Market Analysis (June 2-3): Bulls Retreat Amidst Strength and Weakness; Where is the Bottom?

Bitcoin's daily chart shows a bearish candlestick pattern, with the price action encountering resistance at the 7-day moving average. The price continued its downward trend after opening, breaking below the 68,000 level. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD lines are extending downwards with increasing volume, the KDJ is trending downwards, and support is expected near the 0 level. The VR indicator is consolidating around 60. On the 4-hour chart, the price has repeatedly broken new lows along the lower Bollinger Band, forming five consecutive bearish candlesticks, and is currently trading below the lower band. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD lines are extending downwards with increasing green volume, the KDJ is finding support at 0 and slightly turning upwards, and the VR indicator is consolidating around 60. Overall, the price action continues its downward trend, with bulls steadily retreating. It has now broken below the 70,000 level and is heading towards the 65,000 area. Technical indicators are showing divergence, suggesting a potential acceleration in the decline. Those who haven't shorted at higher levels should wait for indicator correction and the next support level. A sharp rebound on the daily chart could present a good opportunity. Watch for resistance around 71000. For short-term trading suggestions: Bitcoin: Buy at 65800, Sell at 70500 (Take profits as needed). Ethereum has shown relatively strong resilience this time, but be wary of a potential downward spike. The daily and 4-hour charts are similar to Bitcoin's overall trend. Watch for short-term resistance around 2020 and support around 1800. For short-term trading suggestions: Ethereum: Sell at 1988, Buy at 1820 (Click the image to see the homepage introduction for more cryptocurrency analysis). —I am Zhou Yueying, a teacher specializing in technical analysis. Feel free to discuss and learn with me about trading and trends! Let's exchange ideas and profit together!