Bai Qi&Guan Yu Yu: Bitcoin and Ether's latest trend analysis and operational strategies in the afternoon of June 4th

This article is exclusively analyzed by Baiqi&Guanyuyu, representing the exclusive viewpoints of Baiqi&Guanyuyu. They have in-depth research and practical experience in BTC, ETH, and various altcoins. Due to the timing of the article, the following opinions and suggestions are not real-time, for reference only. Please bear the risk, indicate the source when reprinting, and control the position reasonably. Avoid heavy or full position operations.
BTC
—— BTC ——

BTC's trend yesterday experienced a small pullback followed by a volatile upward movement, reaching a resistance near 70250 before falling back. Currently, the price is trading around 69300, and the short-term trend in the 2-hour timeframe shows a high followed by a pullback, but the bearish momentum is not strong.

Recent focus: the range between 70850-70450 on the upside and 67100-66600 on the downside. Still need to pay attention to the high point of 69000, whether it can provide effective support.

Structural form: The red price channel line in the picture is broken, and the upward slope line is indicated by the yellow line 1. The white price line range is the range of resistance and support.
Notes: Pay attention to the yellow slope line 1 in the price retracement chart, and follow whether the slope line is effective. Also, pay attention to the accelerated market after the support of the yellow slope line and the white price line range below is broken.

Trading strategy:
long order: If the 67100-66600 range is tested and the body does not fall below, go long when a bottoming signal is given on the 5-minute or 30-minute chart.
Short order: Short if the rebound in the range of 70850-70450 fails to break through. Short if a top formation signal appears on the 5-minute or 30-minute chart.

ETH
ETH experienced a small retracement to 3754 yesterday, then slowly climbed up. It reached resistance near 3854 before falling back and reached a low wick candle of 3720 without breaking. Currently, it has rebounded to around 3780 and is trading in a valid range on the 2-hour timeframe.

Recent Focus: Still need to pay attention to the range of 3820-3860 on the upside and the range of 3720-3700 on the downside.

Structure form: The red sloping line in the figure breaks through and forms a bottom pattern. The yellow sloping line 1 in the figure breaks through and successfully retraces the yellow sloping line 2.

The yellow slope line 2 forms a flat convergent triangle with the pressure range above.

Note: The yellow slope line 2 forms a flat top convergent triangle with the upper pressure range. Pay attention to the accelerated market after the triangle breaks, as well as the pullback to the neckline level.
Trading Strategy:
Long order: If the price bounces back within the range of 3720-3700 without breaking below, go long when a bottom formation signal is given on the 5-minute or 30-minute chart.
Short order: Do not short if the rebound in the 3820-3860 range does not break through. Short if a top formation signal appears on the 5-minute or 30-minute chart.
Key focus: Whether the yellow slope line 2 support is effective, the accelerated market given after the break of the flat convergent triangle, and the pullback to the neckline level.
Whether the white line 1, 3800 support is valid. Can the white price line 3853 above serve as effective resistance?

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