June 1 BTC/ETH Miken Strategy

The so-called five lows, six reversals, seven turnaround, looking back at the performance throughout May, the final result was indeed unsatisfactory, but there were still attempts to break through major resistance levels in the middle of the month. Although it couldn't stabilize, it's much better than a stagnant water situation. With a new month arriving, the outlook is still not optimistic. The news environment remains uncertain and unable to provide a good ecological environment. The performance of other markets has been too impressive, draining liquidity from the crypto space as if the bottom has been pulled out. A gentleman does not stand under a dangerous wall; when the market is difficult, it's best to tighten the lines, endure the winter, and survive to realize value. Wishing everyone smooth sailing and victory in June.

BTC: Currently, 74,400 has not been firmly broken through and stabilized. Today, beware of losing patience and then making a move to release chips. The previous validation only confirmed the position of the 71,400-74,400 range's midpoint. Relying on this platform, the key levels haven't been repaired. Today, watch whether it will test the lower boundary support at 71,400. In terms of operation, add shorts with 74,400 as a defense. If a dip occurs, the first defense level is 71,400; how low it can go depends on the market’s ability at the moment. The second level, if a rare panic spike occurs, watch the 69,800-70,400 zone. Don't be afraid if it gives way; this is also a historically critical platform. The temporary defense is set at 69,000. (See chart for details)

ETH: The near-term resistance at 2,038 has not been able to break through and stabilize. Going against the water, if there's no progress, watch whether it will test the large range of 1,909-1,965 again. A spike is also a short-term panic drop, and it's an opportunity to enter the market at this level. If a dip occurs, use 1,900 as a defense if it stays within the range, or 1,870 if near the lower boundary of the range. This is a low-probability event, so don't panic excessively. There is still support at 1,965-1,985; pay attention to the market feedback. Since 2,038 has not been surpassed, use this level as a defense for all high points. (See chart for details) $BTC ‌#美伊谈判博弈