June 11 BTC/ETH Miken Strategy

The “wolf” has come too many times; villagers no longer believe. Although there have been continuous frictions between both Iran and the US, market sentiment seems to have become desensitized—it no longer has the kind of panic and fear as before. Last night’s CPI data was also digested smoothly; these are all good signs. Of course, we must not take large timeframe moves lightly. We are still in a downward channel; until we firmly and solidly reclaim key levels, we can only proceed carefully, using a defensive approach to test and verify signals.

BTC: The support platform identified in earlier posts at 60800 has played a crucial role. In the past two pullbacks, price has not broken through this level. After yesterday night trading session’s pullback, it also followed through to surge toward the overhead pressure zone. Although the first push to 62888 failed, the night session pullback still didn’t break 60800. So the near-term idea is to treat 60800 as defense. Above this level, add positions to gamble on “dodo” repair and recovery. The resistance levels above are, in order: 62888-64150-65400 (see the chart for specifics). If you don’t believe in the recovery repair, then add shorts below the pressure levels—use the pressure levels as defense.

ETH: What we can currently confirm is that 1533-1575 is the core support. The “second pancake” has already shown resistance above the core support; specifically, at 1605 it has been unable to break multiple times, and it echoes the prior consolidation platform that was broken through earlier. So, intraday, use 1575-1605 as the support platform, with overhead resistance at 1669-1715. The highest point of this rebound is 1715; once it passes, it can open up space to the upside. Look for opportunities around 1825. For execution, near-term you can first use 1605 as defense, add positions at this level, and target 1669. For high shorts, use 1669 as defense; when approaching this area, attempt to break through—if it breaks, exit, then follow through to look for higher pressure levels and try again. (See the chart for details) $BTC ‌#美国5月CPI创三年新高