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June 9th ETH (Ethereum) thoughts and trading suggestions:
Thoughts
The trend is weaker than Bitcoin, quickly pulling back after rising near 1720, which has already verified the effectiveness of high-level resistance. Bulls attempted to push higher multiple times but were blocked, with many trapped positions above, making upward resistance very strong. The intraday market focus continues to shift downward, rebound strength is weak, and the overall bearish trend is clear. Short-term rebounds are mostly trap trades, likely to continue oscillating downward.
Trading suggestions
Short in batches between 1680-1710, with a stop loss above 1730, targets at 1650 and 1600, and a break below to watch for 1550. $BTC $ETH