Pionex: Latest Market Analysis for Bitcoin on June 6

Article Published on June 6, 2025 - 0:10

The current price of Bitcoin is 104,600. Pionex has observed that the market trend is relatively stable but unclear in direction. From a short-term perspective, market participants are leaning towards a wait-and-see approach. The competition between key support and resistance levels may determine the future direction. Therefore, Pionex suggests attempting a light position near the 103,900 support level. If the price breaks through the 105,250 resistance level, consider increasing the position or chasing the rise. Attention should also be paid to whether trading volume can significantly increase and if there are strong signals from the MACD indicator to confirm the trend direction. Technically, patterns such as hammer and morning star have appeared but failed to sustain a rebound; a doji has appeared at the end of the consolidation range, indicating a choice of direction. Thus, it is advisable to patiently wait for a clear direction before acting accordingly.

Today's Reference Points:

• Long Entry: 104,000, Stop Loss: 103,500, Target: 105,500
• Short Entry: 105,500, Stop Loss: 106,000, Target: 104,000

Latest Market Analysis for Ethereum

Before publication, the current price of Ethereum is 2,590. Pionex has found that the market is fluctuating around the MA7 and MA30, reflecting an unclear direction in the short term. The bearish momentum of the MACD is strengthening, and trading volume has increased in phases, but the price rebound is limited. In the short term, the accumulation of bearish momentum has led to a dominant bearish sentiment. If the price cannot break through the current resistance level, it will further test the support area, with a high probability of breaking the previous low. Therefore, Pionex suggests taking action only after a directional breakout, focusing on the price's reaction at support or resistance levels and whether trading volume increases. Consider shorting at highs; if the price falls back to the main support level with a significant rebound in volume, a light long position can be attempted.

Short-term Strategy Reference:

• Long Entry: 2,500, Stop Loss: 2,460, Target: 2,600
• Short Entry: 2,650, Stop Loss: 2,700, Target: 2,550

The above is a brief analysis by Pionex regarding the current market situation for investors' reference. Over the past ten years, Pionex has continuously explored and experienced hundreds of different digital assets. Throughout this process, Pionex has witnessed the brilliance of bull markets and the gloom of bear markets, accumulating countless valuable experiences and profound lessons along the way. As a female trader striving in this challenging field, Pionex feels a responsibility to share her insights, hoping to assist others with dreams in finding their place in this unpredictable market and embarking on their own successful journey.

The content of this article is time-sensitive and for reference only; risks are to be borne by the reader.

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