6.11 Concubine Early Morning Analysis - Luo Yisi's Approach

Overnight weak consolidation and downward probing, early morning low-level stabilization for short-term longs
Market Review
The Ethereum trend overnight aligns with expectations, continuing the overall weak downward trend, with prices steadily falling from around 1660, briefly stabilizing and rebounding after probing down to 1605. The fluctuations are orderly throughout, with key support and resistance levels accurately positioned, and the trend remains within expectations, with the overall rhythm fully under control.
Market Analysis
The daily chart is in a deep downward channel, with a clear bearish trend, but short-term downward momentum is waning. The early morning retracement confirms support technically. Support at 1605-1610 is strong, with multiple probes failing to break effectively; resistance in the 1660-1680 range is obvious, making short-term breakthroughs difficult. The 4-hour chart shows weak consolidation at the bottom, with a need for short-term correction. The overall pattern is a low-level, weakly consolidating structure, waiting for volume to determine the direction.
Trading Suggestions
- Entry Range: 1615-1605
- Stop Loss: 1595
- First Target: 1650-1660
- Second Target: 1680
Stick to the low-level short-term long strategy, strictly control position risk, and consider shorting on rebound resistance.

Risk Warning: Market fluctuations are highly volatile; the content is for reference only and does not constitute any investment advice. $BTC $ETH