2024.6.5 Bitcoin market analysis and operation suggestions
Market Analysis
Daily level
Pattern analysis: Bitcoin broke through $70,000 after a Jedi counterattack, once again demonstrating the strong momentum of the bulls.
Key Locations:
Support level: $68,800 (top and bottom conversion support strength)
Pressure level: $69,500 (long and short volume support position)
Technical indicators:
MACD: After multiple conversions of long and short volumes, the lower support slowly moves upward.
4-hour level
Pattern analysis: The price is running in an upward channel and the Bollinger Bands are opening.
Key Locations:
Support level: $70,500 (previous high pressure turned into support)
Pressure level: $71,900-72,000 (overall barrier suppression)
Technical indicators:
MACD: The third time running at a low level with large volume, breaking through the previous high pressure.
1 hour level
Pattern analysis: The price is clearly supported at $69,800 and shows signs of slight top divergence.
Key Locations:
Support level: $69,800 (short-term support strength)
Technical indicators:
KDJ: Short-term indicators have a certain risk of correction.
Comprehensive Analysis Bitcoin shows strong bullish momentum on both the daily and short-term levels, but attention should be paid to the performance of key support levels and potential callback risks. In this case, callback longs are a sound strategy.
Recommendations
Long Suggestions
First long position: $68,800-69,000 range
Stop loss: $68,500
Targets: $69,500, $70,500, $71,900
Second long position: $69,800-70,000 range
Stop loss: $69,500
Targets: $70,500, $71,000, $72,000
Short Selling Recommendations
Short-term high-level short selling: $71,900-72,000 range
Stop loss: $72,300
Target: $71,200, $70,500
Trading Tips
Short-term operations: pay attention to key support and resistance levels, sell high and buy low, and strictly set stop loss and take profit.
Risk management: Pay attention to the potential pullback risks brought about by signs of top divergence to ensure stable and safe transactions.
2024.6.5 Ethereum market analysis and operation suggestions
Market Analysis
Daily level
Pattern analysis: Ethereum's daily increase is not obvious, the overall price is in a top divergence pattern, and the divergence repair has not been completed. The high position has formed a trend of falling instead of falling.
Key Locations:
Support level: $3790-3780 (key support area)
Technical indicators:
MACD: Displays a top divergence pattern, and attention should be paid to the divergence repair.
4-hour level
Pattern analysis: The price is in a volatile market, with a range of US$3750-3580, and this volatile range has been maintained for more than a week.
Key Locations:
Range: $3750-3580
Technical indicators:
Bollinger Bands: Beginning to close, volatile market continues.
1 hour level
Pattern analysis: The Bollinger Bands are running open, and the Ethereum price is running in an upward channel, but the K-line pattern and MACD show a top divergence, indicating that there will be a pullback after the subsequent price surge.
Key Locations:
Support level: $3,750 (short-term support)
Pressure level: $3820-3840 (upward channel pressure)
Technical indicators:
KDJ: shows that there may be overbought risk in the short term.
MACD: A top divergence has formed, and the risk of a pullback needs to be guarded against.
Comprehensive Analysis Ethereum shows signs of shock and top divergence at all time levels. It is expected to continue to fluctuate in the shock range in the short term and may experience a pullback after the surge. A prudent strategy is to wait for a pullback before going long.
Recommendations
Long Suggestions
First long position: $3780-3800 range
Stop loss: $3,750
Targets: $3850, $3900, $3950
Second long position: 3700-3720 USD range
Stop loss: $3,680
Targets: $3780, $3830, $3880
Short Selling Recommendations
Short-term short selling at high levels: $3820-3840 range
Stop loss: $3,860
Target: $3780, $3730
Trading Tips
Short-term operations: sell high and buy low within the range of shock, pay attention to key support and resistance levels, and strictly set stop loss and take profit.
Risk management: Pay attention to the potential pullback risks brought about by signs of top divergence to ensure stable and safe transactions.
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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!
