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6.16 A Million Clock Morning Market Insights
In the morning, the cryptocurrency market displayed a move up followed by a pullback. After the price probed the 66,000 support area, the short-term adjustment is basically in place, and the bottom formation at the short-term level is gradually being built. Positive news relevant to the European and U.S. markets continues to be released. The overall market structure has not changed from a bullish stance. Going forward, there is still room and momentum for upside movement. From a trading perspective, maintain a mildly bullish bias; when there are pullbacks, opportunities can be found to set up long positions.
For Bitcoin, if it pulls back to the 66,000 range, you may consider adding long positions. The first upside target is around 67,500. For Ethereum, if it pulls back to the 1,780 range, follow up by adding long positions; watch for resistance around the 1,850 area.
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