Chu Yuechen: Bitcoin/ETH Contract Trading Reference (June 2nd)
Chu Yuechen: June 2nd Bitcoin/ETH Contract Trading Reference Market Structure Judgment: This round of decline is a multi-dimensional resonance – expectations of tightening macro liquidity (interest rate hikes), continuous withdrawal of institutional funds (ETF net outflow over 10 days), geopolitical risk aversion (US-Iran tensions), and the first reduction in holdings by the largest "Bitcoin hoarding narrative" target – a concentrated clearing of long positions due to the superposition of four negative factors. Looking at the on-chain selling pressure and buying pressure gap, stablecoin liquidity has not yet shown obvious signs of a return, and further confirmation signals are needed for short-term stabilization. In my recent articles, I have consistently emphasized the short-selling strategy, choosing to short since 78,000, and still providing short positions this morning, also advising to exit around $70,000. Recent operations have correctly predicted the trend and executed the trades effectively, resulting in substantial profits. Those who have consistently followed my trades have multiplied their accounts several times over. The current short-term resistance is around 71,000, with psychological support at $70,000. The resistance level around 72,500, a former support level, has become a strong resistance. For intraday contract trading, short positions can be established around 71,000. Add to short positions if the price approaches 72,000, with a stop-loss at 72,500. If the price breaks below $70,000, the next support level is around $65,000. For ETH, initiate a short position around 2000, add to the short position around 2030, with a stop-loss at 2050 and a target of 1950-1900. For further discussion and trading, please check my profile. I will provide timely price and order alerts. Don't miss opportunities to profit; otherwise, it's better to remain calm. So don't complain about the market; the market is always right. It's all about what you do.