6.8 Afternoon Auntie Market 🍜 Poetry Viewpoint

MACD golden cross momentum is strong, focus on whether the 1700 resistance level is broken!
The morning "bullish rebound, focus on 1700 resistance" idea is completely correct. Currently, the market is in the profit-taking phase of the first target zone (1700-1710), in the afternoon, it is crucial to see if it can effectively hold above 1700. If it cannot, a pullback should be expected!
At present, the 4-hour MACD double lines are forming a bullish crossover upward, with the red momentum bars continuously enlarging, indicating that the short-term rebound momentum remains strong. The price has already broken above the 1660 level and is testing the dense chip pressure zone above 1700-1720.
Although the rebound is vigorous, be aware that "a sharp rise must be followed by a pullback." The current price is far from the moving average, and there is heavy trapped volume above, so in the afternoon, a wave of consolidation or a slight pullback is likely first, before attempting a breakout after confirming support.
Resistance levels: 1700 - 1720, strong resistance near 1750.
Support levels: 1630 - 1640, strong support near 1600.

Trading Suggestions:
1. If the price stabilizes after pulling back to the 1630-1640 zone in the afternoon, consider a light long position, with a stop loss below 1610, targeting 1680-1700.
2. Wait for a pullback to the strong support levels at 1600-1610 to go long, with a stop loss at 1580, targeting the previous high of 1680-1720. $BTC $ETH $SOL