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6.30 US Session | Bounce Faces Resistance, Bearish Trend Remains Unchanged
Good evening, everyone. I'm Lao Wu.
BTC and ETH are consolidating in a narrow range with weak rebound momentum and heavy resistance above. The previous short positions have already captured significant downside room. With limited upward momentum in the evening, we continue to adhere to the strategy of shorting on bounces.
The daily structure remains bearish, and short-term rebounds are all facing resistance. The 4-hour highs and lows are continuously lowering, with moving averages persistently suppressing price action. No signs of stabilization have appeared yet, so we follow the trend during the US session.
Layout reference:
BTC: Short in batches at 59300-60100, target 57300-56800
ETH: Short at 1600-1620 range, target 1480-1460 #btc $BTC