Jingyi's trend outlook for this week (June 9 - June 10)

Bitcoin is seesawing near 630. How to choose between long and short? The current chart is around 626. After rebounding nearly 7% from below 590 on the weekly level, it is now repeatedly contesting the 620-640 resistance range.

From a technical structure perspective, Bitcoin has broken out of the 4-hour descending wedge and returned above the key bullish trend line, with bearish momentum weakening. However, the rebound volume has not significantly increased, casting doubt on the validity of the breakout.

The weekly rebound faces significant pressure, with bulls unable to firmly hold the key resistance level. The rebound is merely a repair during the downtrend, and the medium-term downward channel remains intact. Continued net outflows from ETFs, a strengthening US dollar diverting funds, and heavy overhead supply all limit upside potential.

Meanwhile, the RSI shows a weekly-level bullish divergence, and the Bollinger Bands may form a "W" pattern reversal. Historical data shows that after May and June declined, July's average gain is about 19%.

Bitcoin's upper resistance is 634-635; after a breakout, look at 638-657.

The lower support is 623; if lost, look at 611-60k level.

Ethereum's key resistance is at 1785-1808; after a breakout, look at 1850. If it fails and pulls back, after losing 1700, it will target 1650, and even retest the 1550-1600 range.

Next week, the market is likely to maintain wide-range fluctuations in the bullish-bearish tug-of-war. Directional choice depends on the PCE data and statements from Fed officials. BTC's core range is 60k-640, and ETH's range is 1700-1800. If PCE exceeds expectations, it may break the balance downwards; if it shows cooling inflation, it may trigger an upward breakout.

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