$BTC Monday recap summary and early morning thoughts share on June 9th
Market review: Early morning Bitcoin dropped from 62,100 to 61,100 with a slight rebound, surged to 64,250 then quickly fell back to 62,400, in the afternoon it rose again and touched 64,200 in the evening, currently fluctuating between 63,500 and 64,000; all positions today have been fully realized, early morning Bitcoin short at 62,300 and take profit at 61,300 for a 1,000-point gain, Ethereum short at 1,709 and take profit at 1,677 for 32 points, midday Bitcoin short at 63,300 and take profit at 62,400 for a 900-point gain, evening Bitcoin short at 63,600 and take profit at 62,900 for 700 points, Ethereum short at 1,690 and take profit at 1,670 for 20 points, finally Bitcoin long at 63,450 and take profit at 64,150 for 700 points, profit should be celebrated, know when to take profits, stay calm in setbacks and accumulate, trading relies on logic and discipline, the market is never short of opportunities, long-term market retention is key to surviving bull and bear markets. $ETH
Considering the current market environment, whether it’s institutions massively reducing gold ETF holdings or the unlikelihood of reopening the Strait of Hormuz, coupled with ongoing geopolitical conflicts, under the superimposed negative sentiment, Bitcoin still shows strong bearish dominance. However, looking at previous lows, this level might actually be a good opportunity for medium- to long-term bullish traders to set up long positions, as compared to falling further, the potential upside if prices rise is still significant. Therefore, in terms of operation, pay close attention to the fact that on the one-hour chart, if the price stabilizes above 63,000 and shows signs of a rebound, we can mainly rely on this level to set up long positions, focusing on a rebound first; of course, if the short-term market drops below 62,500 support again, we should continue to watch for bearish continuation, just like during the day, even if the price tests near 63,000 twice but fails to continue downward and begins to rebound, it indicates that although the bears are strong, they cannot sustain the decline, so a dip becomes a good opportunity to go long again. Once the bulls stabilize above 64,000 and continue the rebound, we might see targets of 64,500-65,000 or even break through 66,000, with bullish space much larger than bearish. Therefore, in short-term trading, a bullish outlook offers higher profit potential and lower risk compared to a bearish outlook.
Tuesday early morning Bitcoin trading suggestion: buy near 63,500-63,000, target 64,500; Ethereum trading suggestion: buy near 1,680-1,660, target 1,730.