6.29 Midday BTC/ETH Market🍜 Shiyuan's View


After the drop, low-level consolidation and repair; when will the pivot point appear?!
After continuous sharp drops hitting stage lows, short-term stabilization led to a small rebound, but long-side momentum is severely insufficient, no reversal structure has formed, currently just oscillating consolidation during the decline, overall major trend remains weak.
4-hour chart continues to be suppressed in a narrow range, multiple rebounds met resistance and fell back; the key level above is 61000, a firm hold above can reverse the short-term weakness, if it cannot break through, it will continue to test the lows.
BTC → current 60011
Support: 59400-59000; Resistance: 60500-61000, strong resistance 61500
ETH → current 1579
Support: 1560-1530; Resistance: 1600-1630, strong resistance 1640

Operation Suggestions:
BTC
1. Retrace to around 59000-59400, lightly long, stop loss below 58700, target 60000/60500;
2. Bounce to around 60500-61000, short, stop loss above 61500, target 59400/59000, break below see 58030 stage low.
ETH
3. Retrace to around 1530-1560, lightly long, stop loss below 1510, target 1585/1600;
4. Bounce to around 1595-1630, short, stop loss above 1640, target 1560/1530, break below see 1510 stage low.$BTC $ETH
BTC-0.41%
ETH-0.29%
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