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, thank you for reading!
Time of writing: 15:44, June 25th, Beijing time
Market Information
- Bitcoin fell to $60,000 due to "chain long squeeze";
- Author of "Rich Dad Poor Dad": Waiting for the right time to increase holdings in Bitcoin;
- The net outflow of Bitcoin spot ETF in the United States was $174 million yesterday;
- With Bitcoin's price falling below $60,000, the "whale game" of Bitcoin has arrived ahead of schedule;
- Federal Reserve's Gulsby: Slowing inflation data will open the door to more accommodative policies;
Market Review
Previously, we expected the market to continue to decline. This decline only reached its low point yesterday. The lowest point for Bitcoin was at 58,400, and our previous short position at 66,100, even if it was captured at 58,400, or the target of 62,500, there was a profit of about 3,600 points. Ethereum's lowest point was 3,240, basically reaching our predicted target of around 3,260, with a short position near 3,700 to 3,260, a profit of about 400 points. Congratulations to friends who followed the layout and made a small profit. Currently, after the market's decline, the opportunity to buy the dip has arrived. This decline has bottomed out, pay attention to seizing the opportunity;
Market Analysis
BTC:
Looking at the daily chart, Bitcoin's decline did not break the previous low of 56,552, and after reaching 58,402, it formed a lower shadow, closing near the previous support of 60,000. This previous support is relatively strong, as it did not break during the continuous oscillation of the high position. This can be considered as effective support. There is also the 200-day moving average as support below. The recent decline after the rebound basically did not provide an opportunity for the rebound. Currently, there is support for the decline, and it is a good time to set up long positions. For short-term trading, control the risk and manage profits and losses on your own;
ETH:
Looking at the daily chart, Ethereum's overall trend is slightly stronger than Bitcoin. The decline did not reach the second support near 3,065, only reaching the first support near 3,260. While Bitcoin continued to decline, Ethereum has been holding the support level of 3,400 without breaking. Last night, as Bitcoin exerted force, Ethereum also reached near 3,260, forming a long lower shadow after reaching it. This decline for Ethereum can also be considered as bottoming out. As Bitcoin begins to rebound, Ethereum will not experience a deep decline. There is a high chance for a significant rebound for Ethereum, breaking through the high point of 3,977 and then setting new highs. In the short term, Ethereum will also welcome a rebound opportunity, with a recommended setup point near 3,300 and a target range of 3,610-3,700. Seize the opportunity to enter on your own, for short-term trading, control the risk and manage profits and losses on your own;
In summary:
The short-term decline for Bitcoin and Ethereum is basically in place, and a rebound is expected in the future;
The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!
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