Monday Summary, June 9 Tuesday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

Monday All-Day Review, reflecting on the market’s movement on Monday, which showed an oversold correction with a sharp rebound followed by a pullback. Driven by both technical and news factors, Bitcoin violently surged from a low of 61,150, reaching a high of 64,250 before facing resistance and topping out; Ethereum also rose from a low of 1601 to a high of 1721. In the afternoon, bullish momentum quickly waned, with candles oscillating and gradually declining, the intraday low dropping to around 62,377. The market maintained narrow fluctuations at the end of the day, with the rally unable to break resistance levels, weakening into a correction. This upward move was merely a technical rebound after last week’s sharp decline, not a trend reversal. The large-scale bearish channel remains intact.
Morning strategy hints at resistance and a bearish outlook. After successfully closing short positions, a rebound rally was captured in the evening. The total gain for Bitcoin was 2,215 points, and Ethereum gained 84 points.

Currently, Bitcoin continues to rebound but cannot effectively break through the resistance zone of 64,300-64,800. The highs are gradually decreasing, bullish momentum is waning, and the long-term bearish trend has not been fully reversed. The market’s focus remains on downward movement, with short-term oscillations just gathering strength for a second decline. On the four-hour chart, candles have touched the upper band resistance, with a clear slowdown in upward momentum. Overall, it remains in a downward channel, with a bearish moving average alignment, and each rebound’s high point is lower. On the hourly chart, after consecutive small bullish candles with upper shadows, the trend turned bearish. The rebound failed to reach the early high of 64,250, indicating heavy selling pressure above. If a resistance level is tested multiple times but cannot be broken, it’s likely to remain unbreakable. The probability of a pullback increases. Key support below Bitcoin is at 62,300; if broken, further decline toward around 61,100 is expected. Ethereum’s rhythm is similar; the key resistance at 1,745 has been tested multiple times without stabilization. If 1,603 holds, it will fluctuate between 1,603 and 1,680. If support at 1,600 is broken, it could drop directly toward around 1,530.
Bitcoin: Short at 63,500-64,000, target lower at 62,500-62,000
Ethereum: Short at 1,675-1,745, target lower at 1,650-1,600
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