6.8 Monday Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

Good morning on Monday! Looking back from early morning until now, Bitcoin has continued its rebound trend from the weekend, oscillating upward, with the highest reaching around 64,250, currently pulling back slightly to about 63,200. Ethereum is also rebounding in sync, with a high near 1,721, currently consolidating around 1,685. Overall, the rebound is still ongoing, but it has entered a critical resistance zone, with no significant increase in volume, and the upward momentum has weakened. Selling pressure above is beginning to show, and the risk of chasing longs is increasing.
Last week's strategy was firmly bearish throughout, with all positions in Zhilan Shipan Kongdan fully closed profitably. The weekly Bitcoin gained 18,729 points in space, Ethereum gained 769 points, with no major counter-trend losses. Congratulations to friends who followed the rhythm for fully capturing this week's unilateral decline profit.

Currently, the rebound has reached the resistance zone, with upward momentum weakening, likely to oscillate or slightly pull back near the resistance level. The four-hour Bollinger Bands are narrowing overall, indicating limited rebound strength. The long-term bearish downward channel remains unbroken and unchanged; this rebound is only a touch above the middle band for correction.
On the hourly chart, Bitcoin is operating near the upper band, with the upper band at 63,900 acting as resistance. The candlestick pattern shows a rebound followed by an upper shadow, indicating resistance to further rise. The Bollinger Bands are opening upward, but the candlesticks have moved away from the middle band and need to revert.
On the 15-minute chart, it is more obvious: after hitting the upper band and then falling back, short-term resistance is clear. Do not chase longs; consider shorting at resistance levels.
Bitcoin: Range of 63,500-64,000 for shorting, target around 6,100 below
Ethereum: Range of 1,700-1,730 for shorting, target around 1,600 below
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