The first two days of June are destined to be a nightmare for the bulls. It's not necessary for Zhong Liang to continue to elaborate on how tragic these two days have been for the bulls; everyone is well aware! From start to finish, Zhong Liang has not given a single bullish signal, continuously emphasizing that rebounds should be shorted, and trying to catch a rebound with bullish positions is like catching flying knives bare-handed, which can easily lead to injuries. It's better to miss out, but how many actually listen? One can only do their best and leave the rest to fate; some things cannot be forced, and there's nothing to be done. Zhong Liang has done his best...
Bitcoin has seen three consecutive daily candles in the red, with yesterday's large bearish candle crashing down, continually pressing against the lower Bollinger Band and opening lower. MACD bearish volume continues to expand, and currently on the chart, KDJ and RSI are showing signs of turning upward after being oversold at low levels, so one must be cautious of a potential bulls' counterattack following the crash. The market never just goes down without any rise; it has fallen so much that indicators also need to recover, so shorting does not mean blindly entering; one should still wait for the rebound.
On the 4-hour level, the price has returned above the lower band; both KDJ and RSI are turning upward, while MACD bearish volume is shrinking. There is a need for indicator rebound recovery, which everyone should take note of. On the hourly chart level, the rebound has reached the middle band of the Bollinger Band as resistance, with KDJ's three lines converging and golden crossing upwards. However, there are signs of RSI turning downward, and MACD bullish volume is increasing. The indicators show a need for a rebound, but resistance also exists above, so for those who are more cautious, some profits from the rebound shouldn’t necessarily be pursued; it's okay to observe and see if higher shorts can be made. Zhong Liang thinks that is also acceptable!
Above resistance to watch is around 67500 and 69000, with higher shorts participating around these levels. Below, support to watch is around 66500, 65500, and 64500.
Ethereum is currently priced near 1875, with the focus on shorting. Higher resistance to watch is around 1900 and 1970, with higher shorts participating around these levels. Below, support to watch is around 1850, 1800, and 1750.
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