Crypto Zhongliang: 6.23 BTC/ETH market opinion!

CN
1 hour ago

Yesterday, on Monday, Bitcoin made a strong move that really surprised the bears. The momentum made everyone think it was going to test the 66,000 mark for resistance, but it only faced pressure near 65,500 and then pulled back. Currently, the market is showing weakness again, fluctuating downwards. Whether on Saturday or yesterday, the posted content regarding 64,000, 65,000, and the shorts at 1,750 are now safe and have been resolved, leaving everyone a bit startled!

Bitcoin daily candlestick formed a small bullish hammer with a long upper shadow, indicating that there is severe selling pressure above. KDJ and RSI are turning downwards, while the MACD bullish volume is still undergoing correction. On the 4-hour level, the Bollinger Bands three tracks widened upwards yesterday, but that has now changed, as the upper track has begun to open downwards. The price is facing pressure at the upper track, and after forming a long upper shadow, it has already broken through the middle track support. Currently, the lower track support is around 63,200, which is also where a small double bottom formed yesterday before rising to 65,500. Today, whether it can hold above this mark is crucial. If broken, the bears will accelerate the decline; if not, it is likely to rebound.

In terms of intraday operations, the focus is on short positions with resistance at 65,000 and 66,000. Short trades should be made around these levels, with support to watch at 63,500, 62,000, and 60,500.

For Ethereum, the resistance is at 1,750 and 1,820, with short positions to be initiated around these levels, and support to watch at 1,700, 1,650, and 1,600.

Investment is a process of "enlightenment." A successful trader needs to have the correct understanding as a foundation while establishing good habits, and then use the correct rules and consistent actions to overcome their trivial pride and humanity. The front-end involves understanding and habits, the mid-end involves methods and logic, while the back-end involves consistency and action. The top-level idea is to continuously simplify, let go, and ultimately accept to attain the truth.

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