Two days ago, I made an appointment with two friends to have a simple meal. I thought it was just an ordinary Saturday, but I forgot that it happened to be Children's Day. The road was congested for half an hour for just one kilometer, and we had to wait in line for two hours to eat. I couldn't help but sigh that kids nowadays are really fortunate. When I think back to when we were young, did we go to amusement parks? Buy gifts? Eat fried chicken and hamburgers? We could only dream about it.
May has become a thing of the past. No matter how many highlights or good results there were, they can only remain in the past. Looking back at May, we perfectly predicted the trend, from the retreat at the beginning of the month to the rebound in the middle of the month, everything was under control. In the middle of the month, we went long around the 61,000 mark all the way to 68,000, and after stabilizing at 68,000 in the latter part of the month, we successfully tested 72,000! Throughout May, from short-term to medium-term, it basically met all of our expectations. So, what kind of trend will June bring, now that it has already arrived? Will it continue to rise and break through to new highs, or will it continue to be under pressure and fall back from 72,000? Below is my personal opinion for your reference.
In the trend analysis for May, I mainly expressed the view of an upward trend, and this view also applies to June. This is because the overall rebound in May was actually to prepare for the real upward trend to come. If May had continued the retreat from April, the entire trend structure might have changed, or the entire upward trend would have been significantly delayed. Therefore, the rise in May can only be said to be just right, from 60,000 to 72,000, it just completed the bottom to top within the range. In June, I personally expect to break through the upper resistance of the range and move upwards. In the first half of the month, it is expected to break through to new highs around 75,000, and in the second half of the month, it is expected to challenge 78,000-80,000. We won't have to wait too long for the 80,000 mark.
On the daily chart, the long-term upward trend that has been constructed since October last year has been maintained (as shown in the figure below). During this period, it used 27,000 as the starting point, and went through a staged rise by retracing to 38,550 and 56,550 support points. This trend has not been disrupted at all, which is also the key basis for our continued bullish view!
Looking at the short-term daily chart, after the retreat in April, the coin price rebounded in May and once again tested the high resistance of 72,000. It is currently under pressure at the high level of 72,000 for a horizontal adjustment. It is important to pay attention to 72,000, as this position is crucial in determining whether there will be upward space in June. It has been a strong pressure point for the daily chart for the past two months. If the daily chart can break through and stabilize in the short term, it will at least reach 75,000. Therefore, in the short term, we will focus on the situation of the coin price breaking through 72,000.
Looking at the short-term daily chart, the main focus is currently on the narrow range oscillation around 66,500-69,500. My personal view in the near term is to stay bullish above 67,000, and in the past few days, I have been constantly suggesting to go long at 67,000 and 67,500. In the short term, we need to pay attention to the resistance at 69,500. If it can stand firm for four hours, it will directly rise to 72,000.
If the support of the 66,500-67,000 range is broken downwards, it will continue to retreat to 64,800-65,000. This position is also where the support line of the long-term upward trend on the daily chart is located. If it retreats to this level in the first ten days, it is bold to lay out a medium-term long position, and this position will also become the fourth support point for the upward trend.
Overall, June is still a bullish month. After the halving and the approval of ETFs, the entire market is expected to usher in a new outbreak in the future. Interested friends should seize the opportunity and plan their positions rationally.
This article is original by Xiao Feng. The above analysis is only a personal opinion for reference. Investment involves risks, and entering the market requires caution. Please indicate the source when reposting! For more analysis and suggestions, please follow the public account: Xiao Feng's Coin Analysis
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