June 28 Market Thoughts

On the 4-hour chart of BTC, on the 25th there was a breakout with a sudden surge in volume followed by a wick piercing and dumping the market. The next day, a single large bullish candle with high volume lifted the market, and the chart then moved into violent wash trading and ranging oscillation.
At present, the body of the closing candles is narrowing; long upper wicks probe the top and then pull back. Volume continues to contract. The sell pressure above is heavy, and bullish rebounds are weak—bulls lack follow-through and staying power.

The MACD’s two lines are under pressure below the zero line. After completing a golden cross at low levels, the two lines gradually stick together. Bullish volume bars continue to shrink. Once the short-term rebound is completed, the bullish momentum has already been used up.

Market Thoughts
BTC (Big Cake): Open short from the high position. The entry range for the short position is 60500–60800. The first target is 59000, and the final target looks toward 58000.
ETH (Second Cake): Arrange a short position at the high level. The entry range for the short position is 1570–1600. The first target is 1450, and the downside target is 1350#BTC