Cryptocurrency Expert: On June 6, Ethereum fell continuously, refreshing its low level. The bearish pattern for Ethereum has been established. How to plan entry and stop-loss for both long and short positions? Latest market analysis and trading suggestions.

Ethereum's current price is 1550. The market is full of bottom-buying calls; don’t let these bottom-buying statements sway your mindset. After Ethereum continually hit new lows, there might be a short-term rebound, but the overall downtrend structure hasn’t changed. Any rebound is an opportunity to enter short positions. Many people hesitate to stop-loss, holding on after being stuck, turning small losses into deep losses. Short-term long positions are only suitable for quick in-and-out trades for small profits, while heavy betting on reversals is equivalent to betting on luck. Stay calm, don’t chase the rise, and don’t panic sell. Patiently wait for the pressure points to enter; steadily capturing swings is far more reliable than gambling on a turnaround overnight.

The daily K-line is overall in a standard downward channel. Currently at a price of 1544, it has broken below the EMA 15, 30, 60, and 120 for all cycles. All moving averages are arranged downward from top to bottom, forming heavy resistance above. Each rebound will be suppressed by moving averages. The daily Bollinger Bands are consistently opening downward, with the price firmly sticking to the lower Bollinger band. The middle band around 1813 becomes the key strong resistance level on the daily chart. The MACD indicator's DIF and DEA are running below the zero axis, with green bars continuing to expand, indicating that bearish momentum is still being released. The RSI is close to the oversold range, indicating a short-term technical need for slight repairs, but the overall downward trend on the daily chart remains unchanged; any rebound should only be seen as a correction in the downward movement.

The four-hour K-line trend shows a more direct weakness, continuously forming a stair-step decline, with prices constantly refreshing stage new lows. All EMA moving averages have simultaneously turned downward, keeping short-term moving averages firmly suppressing market rebounds; the current price of 1544 is far from all cycle moving averages. The four-hour Bollinger Bands are opening downward, with the market relying on the lower Bollinger band for continual decline; the middle band at 1778 is the first pressure point for the short term. The MACD dual lines are continuing to decline below the zero axis, with green bars maintaining a state of expansion, indicating sufficient downward momentum, while the short-term indicators have entered deep oversold territory. It is difficult for the four-hour level to directly reverse and strengthen in the short term; even if a slight rebound occurs, it would only be a technical repair after an oversold condition, with limited rebound space and very difficult to break through the middle band resistance.

Short-term references:

For the upper range of 1620 to 1660 take a short position, stop-loss at 1690, target at 1570 to 1500.

For the lower range of 1510 to 1470 take a long position, stop-loss at 1430, target at 1570 to 1620.

Specific operations should primarily rely on real-time data from the market. For more detailed information, you can consult the author. The publication of this article may have delays; it is recommended for reference only and risks are to be borne by yourself.

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