Li Mingyang 6.8 Midday BTC/ETH Minimal Technical Analysis and Long/Short Strategies

BTC 1-hour chart is in a correction phase after an upward move, with moving averages still in a bullish arrangement, but the MACD red histogram is shrinking, indicating weakening upward momentum. In the short term, the trend is mainly consolidating with a pullback, and the overall trend has not reversed.

Long position strategy
Entry condition: Price pulls back to stabilize within the support zone
Entry point: Near 62,300
Stop-loss point: 61,800
Take-profit point: 63,800 (First target) / 64,200 (Second target)

Short position strategy
Entry condition: Price rebounds to encounter resistance in the resistance zone
Entry point: Near 63,600
Stop-loss point: 64,300
Take-profit point: 62,500 (First target) / 61,500 (Second target)

ETH 1-hour chart has a larger correction, has broken below the short-term moving average, and the MACD has formed a death cross. Short-term downward momentum is strengthening, but the price remains above the medium-term moving average, and the medium-term bullish trend has not been broken.

Long position strategy
Entry condition: Price pulls back to stabilize within the support zone
Entry point: Near 1,640
Stop-loss point: 1,610
Take-profit point: 1,680 (First target) / 1,710 (Second target)

Short position strategy
Entry condition: Price rebounds to encounter resistance in the resistance zone
Entry point: Near 1,685
Stop-loss point: 1,720
Take-profit point: 1,640 (First target) / 1,605 (Second target)

‼️ Personal opinion: operate cautiously ‼️

💡 When trading, prioritize signals of price stabilization/breakout in key zones, combined with volume and MACD for confirmation, to avoid blind orders $ETH