Preface: Investment involves risks, please proceed with caution.
Article review takes time, and there may be delays in publication. The article is for reference only, and your readership is welcome!
Time of writing: 15:40, June 14th, Beijing time
Market Information
- Hong Kong financial institutions accelerate their participation in virtual asset trading.
- Bitget: Monthly capital inflow reached 1.265 billion US dollars, ranking first among centralized trading platforms.
- Breaking news: The Chairman of the US SEC expects the approval of the Ethereum ETF S1 to be granted this summer.
- President Biden announces the nominees for the leaders of the US Securities and Exchange Commission, the Federal Deposit Insurance Corporation, and the Department of the Treasury.
- US Senator Bill Hagerty: There are still many uncertainties and ambiguities in the SEC's crypto measures.
Market Review
Yesterday, we traded with a bearish mindset. The highest point of the short-term rebound for Bitcoin was at 68,449, which coincided with our entry. The lowest point was at 66,251, close to our target. Short positions made a profit of over 2,000 points, but the market did not break the previous low, so the downtrend did not continue. Ethereum's high point yesterday was at 3,539, failing to reach the vicinity of 3,600, so the short positions were not successfully established. Those who entered the market still made a certain profit. The lowest point of the decline was at 3,428, refreshing the previous short-term low of 3,432. Congratulations to those who followed this short-term bearish trend and exited with a profit.
Market Analysis
BTC:
Looking at the 4-hour chart, after the decline of Bitcoin yesterday, it did not refresh the short-term low of 65,910. It saw a small rebound during the day, but the current trend indicates that the rebound in the day reached the support below the previous box oscillation. Now that it has broken through, the support can also be considered as resistance. There will be a greater chance of further decline in the day. The next expected level is around 64,300. However, it is approaching the weekend, and the volatility during the weekend should be smaller. During the day, pay attention to whether the 67,250 level can be held at the 4 o'clock line change. If it cannot, then you can consider establishing short positions around this level. Strictly set stop-loss, with the target at 65,200-64,300. Exercise discretion in entering the market for short-term trading, control the risk, and manage gains and losses on your own.
ETH:
Looking at the 4-hour chart, Ethereum's rebound yesterday was relatively weak, failing to reach the 3,600 level for our entry. The decline last night also refreshed the previous day's low. Ethereum's trend during the weekend should also be relatively small, and it is unlikely to reach the 3,600 level. The 200-day moving average as resistance can be used as a basis for establishing short positions for Ethereum, with the recommended level being around 3,525 and the target around 3,380. Strictly set stop-loss, engage in short-term trading, control the risk, and manage gains and losses on your own.
In summary:
Bitcoin and Ethereum declined as expected yesterday and are expected to continue to decline after the weekend's oscillation.
The article is time-sensitive. Pay attention to the risks. The above is only personal advice and is for reference only!
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The most attractive place in a city is where the person you want to see is. The most attractive part of a market trend is where the money you want to earn is.
A person's sense of boundaries is knowing what can be done, what cannot be done, knowing what one does not know, and knowing what one knows. This is the boundary. Not knowing what one knows, not knowing what one does not know, the sense of boundaries is blurred, which will lead to an overestimation or underestimation of oneself, without an accurate self-assessment. With boundaries, try to do things that you can understand at a glance and can easily solve, just like trading. If you can't understand it at a glance and it does not fit the trading system, the longer you study, the more confused you will become.
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