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6.9 Tuesday Afternoon Market Analysis
The morning market is about to end, and overall the trading session hasn't offered many opportunities. After retreating from the high of 63,800 to around 62,300, it entered a sideways consolidation. The price also touched the lower boundary of the hourly chart, and the rebound momentum was insufficient. The high-level resistance was obvious, and the market was under pressure with a slowdown in gains. The market followed Bitcoin's weakness, mainly taking a trend-following short position, avoiding long entries.
ETH current price is 1667, with a intraday decline of -0.65%. There is dense trapped positions above, limiting the rebound space.
BTC trading suggestion: Short around 63,000, take profit at 62,200-61,200, stop loss at 64,000.
ETH trading suggestion: Short around 1,680. Take profit at 1,650-1,600, stop loss at 1,720.