Coinglass: Over the past two weeks, long positions were heavily liquidated in the 71693-72471 range, very concentrated liquidations for shorts in 78206-78984;

ETH long liquidations over the past two weeks concentrated in 1947-1968, shorts in 2145-2174

Technical Analysis:

BTC:

Supported by the daily MA120 and the upper edge of the support zone 71947-72454, a rebound started on Friday, but we can see from the market that the rebound strength is weak. It was repeatedly resisted and fell back at the upper resistance zone 73024-74157. The 12H level has already touched MA10 today, and the 4H level has reached MA30. This position and the resonance at 74157 will face significant resistance, but at the same time, the 4H MA5 and MA10 are extending upward, creating space compression with the downward-diverging MA30, indicating a potential trend reversal. Considering the current market, the probability of a final downward correction in the night session to release risk is higher.

The monthly candle closes today; early next month may see a rebound with an upper shadow on the monthly chart. Combining the dense bullish liquidation zones, tonight’s downward pin support zone 71947-72454 lower edge, after a false breakout with a drop below previous lows followed by a rebound, will form a good long-short wipeout pattern.

ETH:

Still somewhat weaker than BTC, the 12H level has not yet touched MA10, while the 4H level has reached MA30. This position and the resistance zone 1990-2041 resonate. Combining BTC’s market and speculation, as well as the dense bullish liquidation zones below, like BTC, the probability of a downward pin correction today is also high, with the target near the upper edge of the support zone 1894-1951, around 1951.

Speculative Guess:

Night session downward pin, BTC around 71947, ETH around 1951, then a rebound begins, forming an upper shadow on the next month’s candle. Target prices: BTC first at 74806-75500, if supported by positive news, data, and continuous new highs in US stocks, then possibly reaching 76588-77601, with ETH at 2088-2140, and 2160-2204. Beyond these zones, no further elaboration. In summary, if the night session smoothly pinpoints the target levels, a good rebound could occur in about a week. Also, considering SpaceX’s largest IPO scheduled for June 12 in Beijing, which may siphon liquidity, and the first Fed meeting with Kevin Woorh on June 18, the second half of June is likely to see the third major downtrend in the crypto market.

Trading Suggestions (ETH):

Trend position: Take profit on short positions near 1951 and double long; if broken below, add to longs at 1894.

Short-term position: Take profit on short positions near 1968, hold cash, and wait for confirmation of the right-side trend before acting.

Support and Resistance Zones:

BTC

Support: 71946-72454, 69483-70876

Resistance: 73024-74156, 74806-75500, 76588-77601, 78156-79257

ETH

Support: 1894-1951, 1819-1871

Resistance: 1990-2041, 2088-2140, 2160-2204, 2236-2273

HYPE1.04%

BTC-0.37%

ETH-0.72%

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