Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: June 9, 11:37 Beijing time
Market Information
- CITIC Securities: It is expected that cryptocurrencies will benefit from de-globalization and de-dollarization in the medium to long term;
- Nasdaq applies to the U.S. SEC to add XRP, SOL, ADA, and XLM to the cryptocurrency index;
- Even with Trump sending the National Guard to Los Angeles, Bitcoin's price is still approaching $107,000;
- BTC and ETH perpetual contracts may become the first pilot projects for virtual asset derivatives trading in Hong Kong;
- The U.S. Democratic Party will hold a hearing next week to discuss the "Stop Trump from Participating in Cryptocurrency Act";
- CME Fed Watch: The probability of a 25 basis point rate cut in June is only 2.6%;
Market Review
Last week, Bitcoin fell directly below the short-term low of 100678, with a low of 100305. After testing the previous rebound low, it showed a slight rebound. Ethereum's decline tested the support near 2425 and also showed a slight rebound. Neither fell below the support level, and overall, the trend did not break down. In trading, focus on the breakout situation and continue to maintain a range-bound trading strategy;
Market Analysis
Bitcoin:
From the daily chart, after testing support, Bitcoin rebounded, with a rebound high at 106482. The previous short-term high was at 106775, which also faced slight pressure and did not continue to rebound. Although the daily close formed a small doji near the short-term high, this doji is a bullish doji, indicating that the bulls are still slightly stronger. In trading, we can wait for a pullback to make a long position. Recommended entry points are around 105000, with an additional buy at 104000, and stop loss at 103000. The target is 107500-109500. After reaching around 110,000, adjust the strategy based on the closing price. Manage your entry opportunities; for short-term trading, control risks and manage profits and losses independently;
Ethereum:
From the daily chart, Ethereum's rebound is suppressed by the 200-day moving average, remaining in a range. The decline has not broken the support at 2425. In the future, Ethereum still faces pressure above. In trading, maintain a range-bound strategy, with support at 2425 and resistance at 2750. Currently, the price is close to 2425, and you can wait to make a long position around 2450, with a stop loss at 2390 and a target in the 2660-2750 range. Manage your entry opportunities; for short-term trading, control risks and manage profits and losses independently;
In summary:
Bitcoin and Ethereum are testing support with a short-term rebound expected;
The article is time-sensitive, pay attention to risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s raise a glass, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep going, every person in the crypto world.
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