Crypto market analysis 6.09

The market is still recovering over the weekend. Bitcoin can still be seen as a successful bottoming out in the short term if it stabilizes near 68,500. After breaking, it will continue to be dominated by downward movement. In the short term, the market will continue to be controlled by news. Next Wednesday, we will focus on the release of CPI and the interest rate decision on Thursday morning. There is still a high probability of interest rate suspension, but Powell's speech will continue to regulate market expectations. Just pay attention to whether 68,500 falls below. After breaking, it will start to accelerate.

The recent news has too much impact, which may lead to a large inflow or outflow of ETFs in the short term, affecting the trend of the market. In the case of unstable market, very few copycat dealers will pull the market against the trend. At this time, wait for a few days and buy the spot slowly at a low level.

Daily level market

- ​​The daily level is still a large-scale bullish trend, with a key position of around 68,500-68,000. After breaking and stabilizing, the bullish trend will reverse, and the upper pressure position is around 70,000.

4-hour level market

The 4-hour level is falling, with the bottom key support position near 68000, the upper pressure near 69500 ​​and the key pressure near 70200.

Intraday level analysis

The intraday level is still in a state of decline, with upper pressure near 69500 ​​and 70000. You can consider shallow shorting at this position, but it is not recommended to buy contracts on weekends, with small fluctuations, or it is not recommended to buy contracts in the past two days, which is easily resolved by news.

The area around 68500-68000 is a large-scale support. You can try to enter the market with long positions at this position, but you can leave after breaking it. This key position at the bottom of the market is to prepare for the restart of derivatives on Monday. The specific situation depends on the trend on Monday and the closing of the weekly line.

The market has changed very quickly recently. If you want to adjust your position or don’t understand the trend, you are welcome to communicate and learn.