BTC, ETH, Gold Trend Analysis: The 60,000 Threshold Becomes Key, Can Bulls Hold On?
Recently, the overall market performance has been weak. Whether it's Bitcoin, Ethereum, or Gold, they are all in a critical phase of direction selection. Next, we will begin the analysis from a larger trend perspective.
Bitcoin: The 60,000 Threshold Faces Ultimate Test
First, let's look at the daily level.
Since the peak of 82,800, Bitcoin has formed a noticeable downward trend line. On June 6, the market showed a bottom doji signal, at that time we took a bullish position, and the market indeed experienced a rebound.
Unfortunately, the strength of the rebound did not last, and in the last two days, there has been another decline, forming a bearish engulfing pattern, which means that the short-term bears have regained control.
The current price is around 61,600.
Aggressive traders can consider taking short positions around the current price, while conservative traders can wait for a price rebound to the 62,000-62,500 range before looking for short opportunities.
From a trend perspective, the overall bearish structure has not changed.
The four-hour structure has already broken down.
From the 4-hour chart, the price has been continuously retreating since around 64,000, with increasing bearish pressure above.
At the same time, the support trend line extending from around 59,500 has been effectively broken.
From a technical structure perspective, once the support fails, the market will likely test the 58,000-58,500 area downwards.
Therefore, it is crucial to focus on whether this target zone can establish new support in the short term.
In future markets, focus on 60,000 and 58,000.
If we expand the period to the daily level, we can see that the market has previously retreated from a high of 126,000 to around 60,000, forming a complete downward channel.
The market then rebounded along the upper trend line of the channel and constructed a new upward channel.
However, the upward channel was ultimately broken, officially starting this round of adjustment.
Friends who have been following the analysis know that during this fluctuating space of over 20,000 points, we have always adhered to the trading mindset of "mainly bearish with some bullish".
This logic remains unchanged.
The most critical question now is:
Can 60,000 Hold?
If 60,000 fails to hold, the next important support will be around 58,000.
If 58,000 is also broken, the long-term target may further point to the 52,400 area.
Of course, if the market continues into an extreme downturn stage, reaching lower prices is not impossible. The crypto market has always been highly volatile, and high returns are often accompanied by high risks.
Ethereum: Bearish Momentum is Strengthening
Now let's take a look at Ethereum.
The current price is around 1,640.
Aggressive traders can consider taking short positions near the current price, while conservative traders can wait for a rebound to the 1,660-1,680 range before looking for short opportunities.
From a technical structure standpoint, the previous bottom doji position is around 1,572.
Simultaneously, looking at the 4-hour MACD indicator, the bullish momentum is continuing to weaken, and the bearish forces are gradually gaining an advantage.
Therefore, in the short term, we should pay attention to two target areas below:
First target is 1,600;
Second target is 1,570.
If the market continues to be weak, both of these positions have a high probability of being tested.
Gold: Rebounds Still Present Shorting Opportunities
Finally, let's look at Gold.
Last night, the 4-hour level of Gold showed a false break of the support level.
In previous articles, we have highlighted that there is strong resistance near 4,360, while a short-term rebound opportunity exists near the lower boundary of the downward channel around 4,240.
However, it is important to note that whether the rebound can form an opportunity largely depends on the speed of the breakdown.
If the price swiftly breaks down below the support, then a more reasonable approach is to wait for a price rebound to the 4,240-4,260 area before looking for short opportunities in line with the trend.
From the current structure, Gold is overall still in a bearish trend, and the rebound is more of an opportunity for bears to re-enter rather than a signal for trend reversal.
CPI Data May Become Market Focus Tonight
Tonight, the market will welcome the important release of CPI data.
From the current market expectations, the data is likely to be bearish for Gold.
There has always been a close relationship between Gold and the US Dollar, with the Dollar's trend reflecting global capital flows and changes in liquidity.
Regarding the deeper logical relationship between the Dollar and Gold, an in-depth analysis article will be specially written later for detailed discussion.
Summary
For Bitcoin, focus on the gains and losses of the 60,000 threshold, and after it fails, focus on the support around 58,000.
For Ethereum, the 1,660-1,680 range remains an important resistance zone, with targets of 1,600 and 1,570 below.
For Gold, the overall trend still leans bearish, and rebounds should still primarily consider shorting strategies.
The current market is at a critical node, and the evening's CPI data could become an important catalyst for short-term directional choices.
The above content is only a technical analysis and market communication, and does not constitute any investment advice. Investors are advised to rationally view market risks.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
