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Hello everyone, I am Cannon Teacher. Live broadcast at 10 pm tonight, and on Tuesday, the market will continue to shrink and bottom out. Let's get straight to the point.
BTC is currently oscillating in the range of 62000-62980. The lowest point reached 61870, currently around 62980, with a drop of about 1.6% in 24 hours. After a deep pullback in the early stage, we have now entered a period of contraction, oscillation, and bottoming out, with continuous compression of volatility and a stalemate between long and short funds.
Key position: Upper pressure 63000-63500 (first resistance), break through and stabilize at 64500-65000; Support below 62000 (short-term defense), break below 61000-60500, ultimate trend level 60000.
The trend of ETH is significantly weaker than BTC, with the ETH/BTC exchange rate falling to 0.027, and funds continue to seek refuge in Bitcoin. The day before yesterday, it surged to 1779 and then plummeted to 1633 in volume. Currently, it is weakly consolidating around 1660, and the rebound strength is very weak. The Ethereum Foundation has completed its restructuring and laid off approximately 54 employees (20%), raising concerns in the market about the efficiency of ecological promotion.
Key positions: Upper pressure 1680 (short-term first hurdle), 1720-1766 (strong selling pressure zone); Below support 1630-1650 (low point area today), 1600-1611 (last line of defense for bulls).
Coexistence of bullish and bearish factors
·On the bearish side: Expectations of Fed rate hikes continue to rise, with the US dollar hitting a high since November last year; Continuous outflow of spot ETFs; On June 26th, approximately $10.6 billion worth of Deribit options expired, often accompanied by severe fluctuations; The ETH/BTC exchange rate continues to hit new lows, and funds continue to withdraw.
·Long side: There have been multiple occurrences of buying around 62000. If it falls and is immediately bought back, it indicates that someone is holding it at the bottom; After experiencing a deep pullback in the early stage, we entered a period of contraction and consolidation, with volatility continuing to compress and the window for change approaching.
🎤 Tonight's live broadcast highlights three key points
Firstly, BTC's continuous testing in the 62000-63000 range, is it a consolidation of the bottom or a downward relay? Combine 4-hour candlestick entity and trading volume for judgment.
Second, ETH 1, Can effective support be formed in the 630-1650 area? If it falls below 1648, about 674 million US dollars of multiple orders face liquidation risk.
Thirdly, how to deal with the wide range volatility pattern before the expiration of the billions of options on June 26th? Upper and lower boundary order placement strategy, stop loss setting, and position management.
See you at 10 o'clock. In the stage of reducing the amount and grinding the bottom, rhythm is more important than direction. We will start after confirming the structure.
Disclaimer: The above content only represents the author's personal opinion and is intended to assist investors in understanding information related to the capital market. It does not constitute any investment advice and does not represent the position or viewpoint of AiCoin. The market is risky and investments should be made with caution.
