Pionex: Latest Market Analysis for Bitcoin on June 8

Article Published on June 8, 2025 - 0:10

The current price of Bitcoin is 105,500. The trend in the market is essentially a continuation of the rebound within a declining trend, gradually showing some bullish support signals. In the short term, Pionex has observed that the rebound momentum is becoming evident: from the candlestick analysis, the recent price is running above the MA(7) short-term moving average, accompanied by an increase in trading volume. At the same time, a MACD golden cross has appeared, and the red momentum bars are gradually increasing, indicating that the market may be in a short-term recovery phase. However, there is still resistance from the descending trend line above, and attention should be paid to changes in volume and the possibility of breaking through. Therefore, Pionex suggests that traders participate based on the short-term rebound rhythm, with entry points focusing on a pullback to MA7. Caution is advised for short positions; it is more prudent to wait for a pullback before going long.

Today's Reference Points:

• Long Entry: 104,500, Stop Loss: 104,000, Target: 105,500
• Short Entry: 106,500, Stop Loss: 107,000, Target: 105,000

Latest Market Analysis for Ethereum

Before publication, the current price of Ethereum is 2,520. After a significant decline, a certain rebound trend has emerged. From a technical perspective, buying pressure has increased in the short term, but overall it remains in a downward trend, constrained by the descending trend line. Pionex has noted that the trend may attempt to break upward due to the rebound momentum, especially with the formation of a MACD golden cross and the bullish three soldiers pattern, which brings further upward potential to the market. However, the shrinking trading volume indicates a cautious sentiment among market participants, and there may be resistance during the rebound process, particularly near the descending trend line. The key to a short-term breakout lies in whether volume can increase. Pionex advises traders to pay attention to the current rebound momentum; if the price breaks above 2,550 with increased volume and stays above the descending trend line, a light position can be considered, targeting around 2,600. If the rebound weakens or shows signs of volume stagnation, it is advisable to take profits and exit immediately.

Short-term Strategy Reference:

• Long Entry: 2,430, Stop Loss: 2,380, Target: 2,550
• Short Entry: 2,600, Stop Loss: 2,650, Target: 2,500

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 borne by the reader.

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