6.29 Early Morning Ethereum Market Analysis: Bearish Cycle Dominates, Shorting on Bounce is the Window$BTC $ETH

From the overall technical perspective, the current market trend has not undergone any substantial reversal at the major level, and the bearish-led rhythm remains solid. The weekly level shows a clear structure of lower lows, with strong continuity in the bearish trend, and market control firmly in the hands of the bears.

On the short-term level, after consecutive declines, there is indeed some oversold rebound momentum, but this rebound is weak and limited in height, facing heavy resistance on the upside. Multiple bullish attempts to rally have failed to hold key positions. The repeated pattern of sharp rallies followed by declines essentially reflects the exhaustion of bullish strength and the inability to reverse the broader situation. It is only a matter of time before new lows are set and the downward trend continues.

Trading Suggestions
Short in batches at 1580-1600, target down to 1540-1500; if it does not break, go long directly.