Pionex: Bitcoin Latest Market Analysis on June 1

Article Published on June 1, 2025 - 0:10

The current price of Bitcoin is 104,700. Pionex has observed that the market is currently in a descending channel, and the downtrend has not changed yet. However, there are signs of stabilization in the short term. Therefore, Pionex predicts that the main force will likely experience consolidation near the support level, with a possibility of a rebound attempt. However, the resistance level above poses significant pressure, and the continuation of any upward movement still needs to be observed. Thus, Pionex suggests taking a wait-and-see approach for now, and one can wait for a signal indicating the end of the downtrend before entering the market. Aggressive traders may consider light positions around the current support level, but they should be cautious as the rebound may be limited. It is advisable to set stop-loss levels; if there is no effective breakthrough, one should quickly take profits. The technical analysis shows a "doji" indicating a potential change in trend; a "top formation" was observed earlier followed by a pullback; recent signals suggest a "double bottom" or bottoming formation.

Today's Reference Points:

• Long Entry: 103,000, Stop Loss: 102,500, Target: 105,500
• Short Entry: 106,500, Stop Loss: 107,500, Target: 103,500

Ethereum Latest Market Analysis

Before publication, the current price of Ethereum is 2,520. The oscillating trend remains unchanged, so Pionex will provide a short-term perspective. The main force may continue to consolidate around the 2,500 point. The technical indicators show weak momentum, making it difficult to form a rapid upward or downward trend. However, some indicators suggest that bullish momentum is accumulating, so attention should be paid to the breakout of key support at 2,400 and resistance at 2,789. Therefore, Pionex recommends attempting light long positions near the support level, targeting the short-term resistance level MA30. If the price breaks through the key resistance level with increased trading volume, one can gradually increase positions to participate in a potential trending upward market. If the price falls below the support level, one should consider stop-loss and observe whether bearish strength shows further signs of strengthening, then seek lower price support before re-entering. The technical analysis shows bullish engulfing, doji, and dark cloud cover patterns, indicating that consolidation is the most probable scenario. Pionex still prefers a quick in-and-out strategy.

Short-term Strategy Reference:

• Long Entry: 2,450, Stop Loss: 2,400, Target: 2,550
• Short Entry: 2,600, Stop Loss: 2,650, Target: 2,500

The above is a brief analysis by Pionex regarding the current market situation for investors' reference. Over the past ten years, Pionex has continuously explored and experienced hundreds of different digital assets. Throughout this process, Pionex has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Pionex feels a responsibility to share her insights and hopes to help others with dreams find their place in this unpredictable market and embark on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are borne by the reader.

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