Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: June 10, 9:00 AM Beijing time
Market Information
In the past 60 minutes, $110 million worth of Bitcoin shorts were liquidated.
BlackRock, with $11.5 trillion, stated that wealth advisors' adoption of Bitcoin is "still in a very early stage."
U.S. President Trump: Has not yet considered talks with Musk;
U.S. Securities and Exchange Commission Chairman Paul Atkins stated that self-custody of cryptocurrencies "is a fundamental American value."
SEC Chairman: The right to self-custody of one's private property aligns with fundamental American values;
Market Review
Yesterday, I reminded everyone that there would be a rebound this week. Although yesterday's closing showed a doji on the daily chart, it does not necessarily mean a decline. I advised everyone to position for long trades, and today the market rose to 110,000. Those who entered long positions in time made a small profit of 4,000 to 5,000 points. Ethereum surged to a peak of 2726, reaching the target range, with profits around 200-250 points. Congratulations to those who followed along for a small profit;
Market Analysis
Bitcoin:
From the daily chart, this wave closed around the 110,000 mark as we mentioned yesterday. I also advised everyone to exit long positions and re-enter around 110,000. Currently, the bulls are still strong, and there is a significant chance of breaking the 111,959 level. However, chasing the rise here may lead to being stuck for a few days or hitting stop-losses. The 110,000 level is a pressure point after this wave of pullback. There is a high chance of another pullback first, likely to the 106,500-105,500 range before rallying again. In trading, you can set your stop-loss around the previous short-term high points for short positions. You can enter around 110,000, with the target looking at the 106,500-105,500 range. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
Ethereum:
From the daily chart of Ethereum, it is still operating within a range and has not broken out. The pressure at 2750 remains effective, so we won't make too many predictions here; let's wait for a stable breakout. In trading, you can short when it reaches the upper pressure near the range. The current price is around 2700, and you can directly position with a stop-loss at 2770, targeting the 2500-2450 range. Manage your entry opportunities; for short-term trading, control risks and manage your own profits and losses;
In summary:
Bitcoin and Ethereum are under pressure in the short term, and you can lightly position for short trades;
The article is time-sensitive, be aware of risks, and the above is only personal advice for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto world.
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