Bai Qi&Guan Yu: Bitcoin, Ether's latest trend prediction analysis and operation strategy in the afternoon of June 4th

This article is exclusively analyzed by Baiqi & Guan Yuyu, representing the exclusive views of Baiqi & Guan Yuyu. They have in-depth research and practical experience in BTC, ETH, and various altcoins. Due to the timing of the article, the following views and suggestions are not real-time and are for reference only. Please bear the risks and indicate the source when reprinting. Control the position reasonably when trading, and do not overweight or fully load the position.
BTC
—— BTC ——
BTC showed a small retracement in yesterday's trend and then fluctuated upward. It was resisted near 70250 at its highest point and fell back. Currently, the price is running around 69300. The 2-hour chart shows a high retracement, but the shorts are not strong.
Recent focus: the range of 70850-70450 above and 67100-66600 below. Still need to pay attention to the high point of 69000 in the middle, whether it can provide effective support.
Structure: The red price channel line can be seen to be broken in the chart, and the upward slope line is indicated by the yellow line 1. The white price line interval serves as a resistance and support zone.
Notes: Pay attention to the yellow trend line 1 in the price pullback chart and see if the trend line is effective. Also, pay attention to the accelerating trend after the yellow trend line and white price line support range is broken below.
Trading strategy:
Long order: If the 67100-66600 range is retested without falling below, a bottom pattern signal will be given on the 5-minute or 30-minute chart to go long.
Short order: If the rebound fails to break through the range of 70850-70450, short. If a top formation signal appears on the 5-minute or 30-minute chart, short.
ETH
ETH yesterday's trend slightly retraced to 3754 and then slowly rose all the way, reaching a high near 3854 and falling back after being resisted, with a long wick candle to 3720 without breaking. Currently rebounded to run near 3780, still oscillating within the valid range on the 2-hour timeframe.
Recent focus: Still need to pay attention to the range of 3820-3860 above, and the range of 3720-3700 below.
Structure form: The red sloping line in the picture breaks through and gives a bottom form. The yellow sloping line 1 in the picture breaks through and successfully retraces the yellow sloping line 2.
The yellow slope line 2 has formed a flat top convergent triangle with the upper pressure range.
Precautions: The yellow slope line 2 has formed a converging triangle with the upper pressure range, pay attention to the accelerating market after the triangle breaks and the pullback to the neckline level.
Trading strategy:
Long order: If the price does not fall below the 3720-3700 range, and a bottom formation signal is formed on the 5-minute or 30-minute chart, go long.
Short: Short if the rebound in the 3820-3860 range fails to break through, and short if a top formation signal appears on the 5-minute or 30-minute chart.
Focus: Whether the support of the yellow sloping line 2 is effective, the accelerated market given after the convergence triangle broke through the top, and the retest of the neckline position.
White line 1, whether the 3800 support is valid. Can the white price line 3853 above act as effective resistance.
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