Analyze market trends (June 10)

Over the weekend, Bitcoin continued to fluctuate, moving between 300-500 points, currently sitting at around 69600.

In the four-hour time frame, Bitcoin continues to fluctuate, the Bollinger bands widen and move sideways. In the short term, cryptocurrency prices are in the adjustment and accumulation phase, with no clear signals yet, so still monitor the fluctuating trend. Therefore, in trading, it is possible to choose the appropriate time to enter a sell order when the price increases in the range.

Structurally, after the previous decline, the market entered a period of adjustment and fluctuated at low levels, forming a recovery. In the short term trend, Bitcoin has fluctuated from the lower band to the middle band in the 1 hour time frame, currently the upper resistance level is around 70000. The nature of the fluctuating market will make the fluctuation amplitude smaller. Today's strategy mainly revolves around trading the middle and upper Bollinger bands on the 4-hour timeframe.

Trade recommendation: Short around 70000-70400, target 69000-68400, defense 800 points!

Ten years of sharpening the sword, there is a reason for the increase or decrease; Don't be greedy, safety comes first! If there is a problem, talk at any time!

Finally, wish everyone a happy Doan Ngo Day!