Weekly trend determining direction, is the rebound not over yet? Focus on these key positions this week!
Recently, the market has become increasingly interesting.
Since the Dragon Boat Festival, market sentiment has clearly warmed up. Bitcoin has been recovering from a low point, Ethereum has strengthened at the same time, panic sentiment is gradually being released, and the profit-making effect is starting to return. Many people were hesitant to enter the market before, but now that prices are rising, they are beginning to chase the highs, which is precisely when the market is most likely to lead people to make mistakes.
How to view the market this week?
This week is crucial for the entire market as it determines the short-term direction.
First, let's look at the weekly chart.
Bitcoin closed with a bearish candle last week; although it seems weak on the surface, this week signs of a bottoming rally have already begun to appear. If we can close with a bullish candle this week, it will mean that this round of correction has likely reached its end, and the bulls will regain control; if we close with another bearish candle, we will still need to guard against further pullbacks.
From the moving average perspective, the MA5 is currently around 66000, which is also an important resistance level that the market will likely test this week.
At the same time, the "bearish engulfing" structure formed last week still exists, so whether this week's bullish candle can complete the repair will directly impact the trend for the next few weeks.
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What key positions should we focus on for Bitcoin?
Currently, a phase of support has been formed around 63200.
If it can stabilize in the short term, then the first target is still looking towards the area around 66000.
After breaking through 66000, we need to closely observe the resistance at 67000. If it can stabilize with volume, then we can expect to challenge the 67800 or even 68800 range.
However, it should be noted that even if the overall trend is bullish, the rise will not be a straight upward movement. After hitting resistance, a normal pullback is still very likely, so do not thoughtlessly chase the highs just because of the increase.
The monthly chart is also worth paying attention to.
Currently, the monthly candle still has a long upper shadow, indicating that selling pressure still exists around 69000. If we cannot regain 69000 by the end of the month and if the monthly candle closes bearish, then next week's weekly candle will still face certain pressures.
Therefore, my current viewpoint hasn't changed:
The overall direction still looks towards a rebound, but the rebound will definitely accompany fluctuations, and pacing is more important than direction.
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How to view Ethereum and Gold?
The overall trend of Ethereum remains in sync with Bitcoin, currently focusing on the resistance around 1824.
As long as Bitcoin continues to maintain strength, Ethereum still has room for a catch-up rally later, but it's not recommended to blindly chase in the pressure area.
Regarding gold, I still maintain my previous judgment.
Over the weekend, I already reminded everyone that there would be another opportunity for a rebound at the beginning of this week, and today's opening movement has basically met expectations.
Currently, positions have been planned for short orders in the 4200-4230 area, targeting the area around 4160.
The overall thought process is very clear:
Gold still belongs to the strategy of selling short during rebounds. Until the key resistance is broken, every rebound is an opportunity to look for short positions.
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Operation suggestions for this week
The most important thing in the current market is not to guess tops and bottoms but to manage the pace.
Continue to focus on the 63200 support and 66000 resistance for Bitcoin.
For friends without positions, it is not recommended to chase high prices; patiently wait for low-buy opportunities after pullbacks.
For those already holding long positions, you can take profits in batches based on resistance levels to increase the profit realization rate.
Maintain a short-selling strategy for gold during rebounds, relying on real-time notifications, strictly control position sizes, and manage risks well.
Trading is never about luck, but about discipline. Direction judgment is indeed important, but what truly determines profit is the execution capability.
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The market fluctuates every day, but not many people can truly seize opportunities.
If you want to see my pre-market analysis, real-time strategies, and key level alerts as soon as possible, feel free to follow me.
Every day there will be a market analysis, every order has its logic, and every layout has its basis. I hope my sharing can help you avoid detours and seize the real opportunities that belong to you.
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