Yueying: Bitcoin and Ethereum Market Analysis (June 3-4): After Oversold Conditions, Expect Correction and Adjustment Phase with Short-Term Strategies

The short-term strategy given above for Bitcoin (65800+) resulted in a movement of approximately 1700 dollars. Looking at the daily chart, the previous candlestick was a long bearish body, breaking below the lower Bollinger Band and touching around 66000. After opening at a new low today, it rebounded with a close. The Bollinger Bands are widening downwards, short-term moving averages are trending downwards, the MACD fast and slow lines are extending downwards with increasing volume, the KDJ found support at 0 and turned upwards, and the VR indicator is consolidating around 50. On the four-hour chart, the price rebounded after finding support at the lower Bollinger Band and is currently testing short-term resistance near the 7-period moving average. The Bollinger Bands are widening downwards, short-term moving averages show signs of turning upwards, the MACD fast and slow lines are parallel with decreasing volume. The KDJ has turned upwards and is crossing above the 50 level; pay attention to resistance around the 50 level. The VR indicator is consolidating around the 40 level. Overall, after the sharp drop and subsequent rebound following a false break below 66,000, the price action suggests a low probability of further significant declines in the short term. The market is more likely to be in a corrective phase, adjusting indicators. It's important to monitor the daily closing price; even if new lows are reached, a sharp rebound is more likely. Therefore, shorting is not advisable at this time. Short-term support levels to watch are the previous low and the area where the price briefly broke below it. Short-term resistance is around 70,000. Short-term trading recommendations: Bitcoin: Buy at 65,800 (or 64,600), sell at 69,800. The short-term buy signal at 1820 given above on Ethereum was precisely executed, resulting in a move of approximately 70 dollars, in line with expectations. The 4-hour chart shows the price action encountering resistance around the 7-period moving average. This level is worth watching for short-term movement. The overall technical trend can be referenced in conjunction with Bitcoin. Short-term resistance is around 2020, and support is around 1800. For short-term trading suggestions: Ethereum short-term suggestion: Short at 1988, Long at 1820 (Click the image to see the homepage introduction for more cryptocurrency analysis) — I am Zhou Yueying.