6.26 Morning BTC/ETH Market🍜 Shi Yuan's View


Sharp drop, weak rebound. Do not blindly chase longs on BTC and ETH!
Yesterday BTC dropped sharply from 63200, hitting a low of 58030; ETH simultaneously fell to 1530. Shorts were concentrated, rebound was weak, and the market consolidated at low levels in the late session.
This morning both coins rebounded slightly, just a weak recovery after the big drop. The 4-hour small candlesticks show bulls are weak, the downtrend remains unchanged. Do not chase longs before breaking resistance..
BTC → Resistance: 63100, 63800, Support: 62500, 61870
ETH → Resistance: 1685, 1710, Support: 1660, 1630
Trading Suggestions:
BTC
1. When it rebounds to around 63100, place a short order with stop loss above 63800, first target 62500, if it breaks down effectively look at 61870;
2. If it retests 61870 and stabilizes, you can try a small long position, stop loss at 61500, target the 62500-63100 range.
ETH.
1. Short near 1685 on rebound, stop loss above 1710, target 1660, if broken, look at 1630;
2. If it retests 1633 and stabilizes, take a small long position, stop loss at 1610, target 1660-1685.
$BTC $ETH
BTC-1.96%
ETH-3.46%
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