6.28 Evening This Week BTC/ETH Market View by Haibei

BTC and ETH have been showing an overall oscillating downward trend this week, with the early oversold rebound repair momentum continuing to weaken. After short-term rallies, they faced resistance and weakened, with bears once again dominating the market. Selling pressure has been re-released, and bullish momentum has significantly decreased.

On the daily timeframe, bearish moving averages are fully suppressing prices. BTC's high of 60550 and ETH's high of 1594 have been progressively declining. BTC hit a low of 58061, while ETH touched a low of 1504. The current price action is part of a secondary decline after the rebound. Each small rally has been met with selling pressure, maintaining the bearish trend on the larger timeframe. The short-term is in a range-bound bearish phase. Today is Sunday, and with reduced weekend trading activity, the overall fluctuation range is limited. Focus on whether the previous support levels can hold.

BTC Key Levels
Support: 59000, 58100, Resistance: 60240, 60600

ETH Key Levels
Support: 1540, 1505, Resistance: 1584, 1601

BTC
1. Short at 60350-60600 area with resistance, stop loss above 61200; first target downside 59000, second target 58100
2. Only light long positions near 58150 for a quick in-and-out scalp, do not hold long-term

ETH
1. Short at 1583-1595 area with resistance, stop loss above 1602; first target below 1540, second target 1505
2. Light long positions in the 1508-1515 range for a rebound scalp, stop loss at 1495, first target 1560, second target 1580

‼️ The above content is for technical analysis reference only and does not constitute any investment advice. Cryptocurrency trading involves high volatility and extreme risk. Please manage your positions and trade cautiously. $BTC ‌