Zhou Yanling: 6.29 Bitcoin and Ethereum Latest Trend Prediction and Trading Strategy for Next Week
With the ceasefire in the Middle East conflict, the cryptocurrency market is now focusing on the Federal Reserve's interest rate cuts and trade negotiations. The market is closely watching the Federal Reserve's tug-of-war: Powell stated "wait and see," while Wall Street is fervently speculating on rate cut expectations. Trade negotiations are also replaying the "old script," leaving investors overwhelmed. The performance of cryptocurrencies is awkward; despite a weaker dollar and Friday's PCE data paving the way for three rate cuts, prices are not rising and are instead suppressed, ignoring the bullish signals. After Powell previously "doused cold water" on the market, it seems the cryptocurrency sector is behaving like a temperamental child, indifferent to positive news and determined to "fight" with the Federal Reserve. It appears that next week's market will be interesting, and everyone is looking forward to it.
In terms of weekly structure, since the price has strengthened in 2024, it has been difficult to see more than two consecutive bearish candles. In this regard, there is a significant opportunity for a bullish reversal next week. However, as there are currently no bottoming signals from the recent decline, it is possible that the market may first drop before rising, exhibiting a pattern of initial suppression followed by a rebound. Currently, in terms of short-term weekend operations, the daily level shows that the price is consolidating around 107,000, presenting a slight upward trend overall, but with weakening momentum. The hourly level has shown multiple upper shadows, indicating strong selling pressure above, while the price has not effectively broken through the previous high of 107,500. The MACD on the hourly chart is below the zero line, with a shortening histogram, indicating that bearish strength is gradually weakening, but there is no clear shift to a bullish trend yet. The RSI on the hourly chart is at 52.27, close to the neutral zone, indicating that current market sentiment is balanced, with no clear overbought or oversold signals. The 7-period EMA (107,324) and the 30-period EMA (107,280) maintain a golden cross state, providing strong short-term support; the 120-period EMA (106,624) is far from the current price, indicating that the long-term trend remains bullish.
Zhou Yanling's 6.29 Short-term Trading Strategy for Bitcoin:
Short at 107,800-107,400, stop loss above 108,500, target around 106,700.
Long at 106,500-106,800, stop loss below 106,000, target 107,300-107,800.
Zhou Yanling's 6.29 Short-term Trading Strategy for Ethereum:
Long at 2,380-2,410, stop loss below 2,350, target 2,440-2,470, continue to look for 2,540 nearby.
Light short at 2,500-2,470, stop loss above 2,530, target 2,420-2,390.
[The above analysis and strategies are for reference only. Please bear the risk yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.]
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contract/spot operations. With a solid theoretical foundation and practical experience, the author excels in combining technical and news-based operations, focusing on capital management and risk control. The trading style is steady and decisive, recognized by many investment friends for a friendly and responsible character combined with sharp and decisive operations. For more real-time community guidance, consultation on position liquidation, market observation techniques, candlestick learning, etc., you can follow the teacher (WeChat public account: Zhou Yanling) to find the teacher.
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