2024.6.4 BTC market analysis and operation suggestions
Market Analysis
Yesterday, Bitcoin closed with a long shadow positive line on the daily line. After the high-level upward rush was blocked, it fell back. The current price is fluctuating around $69,000 and absorbing funds. There are certain signs of stopping the decline on the daily line. The following is a detailed analysis of different time periods:
Daily Line Analysis
Pattern: The long shadow positive line indicates that there is great pressure from above, but there are signs of stopping the decline.
Support and pressure: The current price continues to fluctuate around $69,000, paying attention to the top and bottom conversion support of $68,200.
Attached chart indicator: Although MACD bullish volume has converged, there has not been a complete reversal of bulls and bears.
4-hour line analysis
Pattern: Prices retraced within an upward channel.
Support and pressure: It is recommended to pay attention to the support strength of the $68,200 line and the high pressure of the $70,100 line.
1 hour line analysis
Bollinger Bands: The three lines of the Bollinger Bands began to close, and short-term suppression formed at $69,100.
Range operation: pay attention to the opportunities of buying low and selling high in the range of US$68,300-70,000.
Comprehensive analysis shows that Bitcoin is currently in a stage of shock accumulation. The pressure from above is relatively large, but the support from below is also relatively obvious. In the short term, it is suitable for range operation, mainly selling high and buying low.
Recommendations
Pullback long strategy
Entry point: around $68,300
Stop loss: below $68,000
Target: $69,100; $70,000 after a breakthrough
High-level short selling strategy
Entry point: around $70,000
Stop loss: above $70,300
Target: $69,100; $68,300 after a break
Trading Tips
Short-term operation: It is recommended to buy low and sell high in the range of 68,300-70,000 US dollars, and strictly set stop loss and take profit.
Key points: Pay attention to the support of $68,200 and the pressure of $70,100. If there is a clear breakthrough or break, consider corresponding strategy adjustments.
2024.6.4 ETH market analysis and operation suggestions
Market Analysis
Ethereum has closed negative lines in recent days, and the price has begun to fall back. The following is a detailed analysis of different time periods:
Daily Line Analysis
Pattern: Continuous negative lines show that the selling pressure at high levels is relatively large, but the buying power is also increasing continuously.
Support and pressure: Short-term support is around $3,650.
4-hour line analysis
Pattern: The Bollinger Bands began to close, and the price fluctuated in the range of $3730-3840.
Support and pressure: We need to pay attention to the strong support of $3,730 to stabilize the situation.
1 hour line analysis
Pattern: Prices are moving in a new downward channel.
Support and pressure: Pay attention to the suppression of $3,790 on the upside, and focus on whether $3,790 can be broken.
Comprehensive analysis: Ethereum is currently in a volatile correction phase. In the short term, it is appropriate to focus on the stability of key support levels and consider a pullback long strategy.
Recommendations
Pullback long strategy
Entry point: 3650-3730 USD range
Stop loss: below $3,620
Target: $3,790; $3,840 after a breakout
High-level short selling strategy
Entry point: 3790-3840 USD range
Stop loss: above $3,850
Target: $3,730; $3,650 if it breaks down
Trading Tips
Short-term operation: It is recommended to buy low and sell high in the range of 3650-3840 US dollars, and strictly set stop loss and take profit.
Key points: Pay attention to the support of $3,730 and the pressure of $3,790. If there is a clear breakthrough or break, consider corresponding strategy adjustments.
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K-line is king, trend is emperor. We have been focusing on BTC and ETH spot contracts for many years. There is no 100% method, only 100% following the trend. We update macro articles and technical explanations on the entire network every day!
