【2024.6.10 BTC/ETH Weekly + Intraday Market Analysis】
Happy Dragon Boat Festival, brothers. The overall increase last week was not bad, but unfortunately it was hit by the bad news on Friday night. Bitcoin and Ethereum fell a little, and the altcoins were bleeding again. Let's see how strong the rebound is this week. The strength of the rebound depends on the data from the meetings on Wednesday and Thursday!
Two major meetings this week:
(1) The CPI data will be released at 20:30 on Wednesday night. If it is lower than expected, it is positive, otherwise it is negative.
(2) The Federal Reserve will release the interest rate decision and economic outlook summary at 2 am on Thursday, and then Powell will give a speech.
Powell is a bit of a dog. Every time the data is released and before his speech, the market is falling. Everyone should pay attention to it. If the data is positive, the market will go up!
If you want to increase your spot position, either wait until the CPI is positive before increasing your position, or enter a short position now to gamble, and then make up for it when it goes down.
If the expectation of interest rate cut is delayed until around November, there is still a quarter of time. During this period, the market is basically a wide range of weekly fluctuations. During this period, contracts are long on dips and spot positions are established on dips!
[This week's support and pressure]
The Bitcoin weekly and daily lines are still on the bullish side, pressure level: 70950-72140 support level: 68750-67650
Ether weekly bullish daily line callback, pressure level: 3745-3840 support level: 3630-3555-3450-3350
[Intraday market analysis]
Bitcoin is currently on the bullish side in 1/2/4 hours. Pay attention to the position of 69480 today. As long as the 4-hour closing line does not fall below this position, the market is likely to fluctuate upward in a sideways market. Pay attention to the pressure level of 69860 in the sideways market. If this position is broken, the upper target/pressure level is around 70120-70820-71500!
If it falls below 69480, it will start to callback in 4 hours. Pay attention to the support below 69160-68845-68400! #BTC走势预测 $BTC
Ether is weak at the moment, and has been trading sideways in the 4-hour chart. Pay attention to the position of 3686 today. As long as the 4-hour closing line does not fall below this position, the market is likely to fluctuate upward in a sideways market. Pay attention to the pressure level of 3725 in the sideways market. If this position is broken, the upper target/pressure level will be around 3763-3815-3845!
If the 4-hour closing line falls below this position, it means that the rebound is weak. Pay attention to the support level below 3660-3620-3555! #ETH🔥🔥🔥🔥 $ETH
