Friday Afternoon Jingyi's Thought Tonight's Federal Reserve Waller Assumption Sets Direction

BTC has been consolidating with decreasing volume for several days, tonight Waller assumes the chairmanship of the Federal Reserve, and the market awaits a direction choice. On the macro level, geopolitical conflicts continue to disrupt short-term volatility; under Waller's hawkish stance, market expectations for a rate cut in June have dropped to 0, with the probability of a rate hike rising to 3.2%, and the full-year easing expectations have significantly declined.

From a technical perspective, Bitcoin is in a downtrend, with a dark cloud cover pattern appearing on the 4-hour chart. The strong resistance is at 782-785, and only a breakout may lead to a rebound toward 796; short-term support is at 772, and a break below could target 760, with a break opening the downtrend channel.

Trading Suggestions
Bitcoin should be positioned around the 778-785 range for short positions, targeting 765, with a break below targeting 752.

Ethereum should be positioned around the 2135-2160 range for short positions, targeting 2100, with a break below continuing to 2050-1970.