Morning of June 7:
The daily structure of the big cake is old. The short-term three consecutive positive lines rushed up and then the negative line stepped back, breaking the short-term upward rhythm. It can be clearly seen that the pressure of the previous top 72000 area is obvious. The market has failed to break through after touching it again, so it fell under pressure. The top pressure is strong. If the short-term falls again, the market may form a double top pattern of M top. If the upper pressure is not broken, the bulls will always have difficulty in making any progress.
Looking at the 4-hour bulls, they have shown obvious exhaustion. The market gradually fell back. Once the direction changes, don’t participate against the trend. Escaping the top is also a skill. The short-term rebound cannot continue, and the operation is converted to a high-altitude approach.
Operation suggestions:
BTC: 71500-71000 short, watch 70000-69500, and defend 71700;
ETH: 3850-3830 short, watch 3750-3700, and defend 3870.
