Yueying: Bitcoin and Ethereum Market Analysis (June 1-2) - Can the 70,000 Mark Hold for Bulls? Latest Strategy Included
The short-term strategy given above for Bitcoin resulted in a short position with a potential move of around $2700. Looking at the daily chart, the previous candlestick closed bearish after encountering resistance at the 7-day moving average. Intraday trading continued downwards, touching the lower Bollinger Band. 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, and the KDJ is turning downwards; watch for support near the 0 level. The VR indicator is consolidating around 70. On the 4-hour chart, after closing near the upper Bollinger Band, the price has fallen for three consecutive bearish candlesticks and is currently trading below the lower Bollinger Band. The Bollinger Bands are widening, short-term moving averages are trending downwards, the MACD fast and slow lines are crossing downwards with increasing green volume, the KDJ encountered resistance near 50 and turned downwards, and the VR indicator is consolidating around 100. Overall, the market is weakening again, and the rebound failed to hold above 74,000. With the downward test of the structure, the key support area for the next stage is around 70,000-69,000. Short-term resistance has shifted down to around 73,000. This slow, insidious decline is not favorable for bulls. Short-term entry points should refer to resistance and support levels. See short-term suggestions. Bitcoin short-term suggestion: Long at 69,900, Short at 72,600 (Take profits as needed). Ethereum 4-hour chart shows the market encountering resistance around the moving average and the middle band, currently testing minor support around the lower band. The overall technical trend can be referenced in tandem with Bitcoin. Short-term resistance is around 2100, and support is above 1900. See short-term suggestions. Ethereum short-term suggestion: Short at 2078, Long at 1930 (Click the image to see the homepage introduction for more coin analysis). ——I am Zhou Yueying, a teacher specializing in technical analysis. Friends with any questions about trading or trends are welcome to communicate and learn with me! Let's exchange ideas and benefit together!