6.12BTC/ETH market view:

Although Bitcoin has made a strong surge, the resistance above is also quite evident. The level of 110300 has faced pressure for three consecutive days, and the previous high of 112000 is a significant barrier. After testing the bottom around 100300, the daily candle chart shows four large bullish candles coming up. The day before yesterday closed with a long lower shadow bullish doji, and yesterday closed with a large bearish candle. It is undeniable that the bullish momentum is weakening, and the pressure above is clear. This is not to sound bearish, but rather a constant reminder to everyone that being bullish and going long is fine, but you must not be too reckless or blind. Do not chase after prices near 110000, as we are still under pressure! Last night there was hardly any pullback, yet in the past 24 hours, the amount of liquidated long positions reached as high as 220 million USD, and in the past 12 hours, long positions worth 180 million USD were liquidated, indicating that too many retail investors are blindly going all in and chasing prices...

Alright, back to the market. Bitcoin has a bullish outlook today. The upper resistance levels to watch are 110300 and 1108000, while the lower support levels are 107800, 107500, and 106500. A low bullish position can be entered here, with targets set at 108500, 109500, and 110500.

Support for Ethereum is focused on 2750, 2720, and 2680. Long positions can be set up at these levels, with targets at 2800, 2850, and 2900. Resistance above Ethereum is focused on 2880 and 2920. #5月CPI 数据将公布