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Bitcoin market analysis and trading suggestions for June 4th:
Looking at the 1-hour chart of Bitcoin, last night, there was a near-top trend line reversal in the upper pin bar, and the upward channel of the Bollinger Bands ended. The coin price is currently falling to the EMA15 level, and attention should be paid to the EMA30 and the first trend line support levels below. The KDJ shows a failed upward turn of the J line, and the three lines continue to diverge downwards. The MACD continues to increase below the 0 axis, and the DIF and DEA form a high-level death cross. However, the 1-hour chart is about to complete the downside, so it may be considered to go long at the support level without breaking.
Looking at the 4-hour chart, the Bollinger Bands are contracting upwards, and the coin price is approaching the middle band, EMA10, and the first trend line support levels. The KDJ three lines are in a battle between bulls and bears. Although the three lines are currently crossing downwards, if the coin price cannot break through the EMA10 and 15 support levels, it may once again form a high-level oscillation range. Also, the MACD above the 0 axis is not showing strong volume contraction, and the DIF and DEA convergence is not strong, indicating that the bulls are still strong.
Looking at the daily chart, the coin price has surged from the EMA15 to the top trend suppression level, forming a contraction and being in a larger triangular convergence pattern. The KDJ three lines are starting to cross upwards, and the MACD has been showing volume contraction since yesterday. The DIF is also turning upwards and converging with the DEA. With less than 2 hours until the daily close, it seems that today's trend will be short first and then long. However, one should also be cautious of the main force's control, as the bulls have been strong for a long time, and the possibility of a shakeout may occur at any time!
It is suggested to pay attention to the first long position in the 68400-68600 range, with a stop loss at 68200, and targets at 69100-69600-70200. Breaking through 70300-70500 can continue to hold until around 71000. It is also suggested to pay attention to the second long position in the 67550-67900 range, with a stop loss at 67400, and targets of around 1000-1500 points. It is also suggested to pay attention to the first short position in the 70300-70000 range, with a stop loss at 70500, and targets of 500-800 points.
There may be delays in article reviews, and the market is constantly changing. For more real-time signals, please follow my official account to enter the market strictly with stop-loss and take-profit orders.
I, Li Hui, interpret world economic news, analyze global trends in the coin circle, and have conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other currencies while studying in the United States. For those who do not know how to operate, you are welcome to comment and leave a message!
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This article is exclusively published by (Official Account: Zhang Li Hui) and does not represent any official position. The publication and review of the article have a time delay, and the above points are for reference only. Please bear the risks on your own! May we always carry humility and courage in this complex coin circle, fear no challenges, and dare to explore. Just as the road ahead is long, "the way is long and the road is far, I will seek and explore". May we read thousands of books, keep pace with the times, and draw wisdom from the fountain. Travel thousands of miles, experience storms, witness the scenery, and comprehend life. With Li Hui's guidance, may we heed advice, play to our strengths, and create value together. May we always remember the baptism of the market, not forget our original intentions, and thus achieve consistency. In the wave of digital currency, let us hold onto our faith with Li Hui, be steadfast, and forge ahead. May we jointly create a brilliant future and share the joy of success. Let us gather in the turbulent world of digital currency, make the most of our time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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