Zhou Yanling: 6.6 Bitcoin BTC Ethereum ETH Latest Market Trend Analysis Today

The cryptocurrency market is now deeply trapped in a low position. In a continuously declining market like this, one should not always think about bottom fishing; every time there is a slight recovery after a drop, it is met with a sudden strike from short sellers. Each time those wanting to bottom fish mistakenly believe they've hit the floor, only to find themselves swiftly eliminated upon entering the market. From a broader cycle perspective, the bearish sentiment remains strong, with no signs of stopping. Our short positions from yesterday were perfectly executed. The daily chart is tightly controlled by bears, with upper resistance stacked like tall walls, and any rebound is merely a trap to lure in buyers. Indicators repeatedly show oversold conditions, and just when it seems like the price can't drop any further, it unexpectedly plunges again, testing mental resilience. Occasionally, there are small rebounds in the short term that spark a glimmer of hope for bulls, but just when hope ignites, the market rapidly turns downward. The support at the 60000 level has already been breached, fearing a new round of plummets may begin next week. I advise everyone not to heavily invest in attempting to catch the bottom; at this stage, the market primarily aims to torment people. Short-term trades can be enjoyable, but significant investments in bottom fishing can lead to sleepless nights. Short-term resistance levels are at 62400 and 64700, with support at 57000 and 54000; for Ethereum, resistance levels are at 1690 and 1730, with support at 1380.

Zhou Yanling 6.6 Bitcoin:

Short from 62400-61600, stop loss above 63400, target 58000-57000, continue looking for a breakdown towards 54500.

Zhou Yanling 6.6 Ethereum:

Short from 1670-1630, stop loss above 1710, target 1460-1420, continue looking for a breakdown towards 1380.

[The above market analysis is for casual reference only and does not constitute investment advice!]

This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling 8). The author has been engaged in financial market investment research for more than ten years, possessing a solid theoretical foundation and practical experience. They specialize in combining technical analysis with news-driven operations, placing emphasis on capital management and risk control. The author's operating style is steady and decisive, recognized by many investing friends for their easy-going and responsible character along with their sharp and decisive actions.

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