Weekly Summary, Analysis and Trading Suggestions for Bitcoin and Ethereum in the Early Hours of June 8th, Monday

A week of decline is a perfect demonstration of a bearish trend. Looking back at last week’s market, it showed a continuous ladder-like unilateral downward trend.
Bitcoin opened above 74,000 at the start of the week under pressure, with bearish forces continuously releasing, gradually breaking downwards, reaching a weekly low of 59,080.
Over the weekend, a technical rebound from oversold conditions occurred, closing around 62,100; Ethereum followed Bitcoin’s complete downward cycle, starting above the 2,000 level, with continuous declines breaking multiple supports, dropping to around 1,503, and slightly rebounding to about 1,630 by the weekend close.
Throughout the week, the bulls showed no sustained counterattack ability; each small rebound was an opportunity for bears to add positions, characteristic of a major bearish cycle dominated market.
The overall weekly strategy remained firmly bearish, with all positions in KnowLan and ShiPanKongTan fully closed profitably. Bitcoin gained a total of 18,729 points, while Ethereum gained 769 points for the week, with no significant counter-trend losses.
Following the rhythm, traders who stayed in the market fully benefited from this week’s unilateral decline, proving the power of trend-following with a full week of landing results.

The current major trend remains bearish. After the oversold rebound over the weekend, it has now reached a key resistance zone, with upward momentum clearly weakening.
On the daily chart, the Bollinger Bands still show a downward opening pattern, with a long upper shadow and a small positive candle, indicating continued selling pressure above. This is a typical oversold rebound after a sharp decline.
On the four-hour chart, Bitcoin stabilizes around 62,000 but remains in a clear downtrend channel. The Bollinger Bands are beginning to contract, with small positive candles at low levels, but the rebound momentum is gradually slowing, indicating a short-term correction is needed.
However, the overall trend is still under the pressure of moving averages, with strong resistance at 63,600-64,400 and Ethereum at 1,695.
On the hourly chart, after rebounding to 62,942, an upper shadow appeared, with consecutive small bearish and bullish candles, indicating diminishing upward momentum. The candles show a tendency to return to the midline, suggesting a correction is needed.
Overall, all current upward movements are just rebounds, not trend reversals. Trading should continue to follow the trend for high short positions.

Bitcoin: Range 62,500-63,000, target around 60,500
Ethereum: Range 1,650-1,660, target around 1,500
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