Analyst discusses hot topics:
With the rise in U.S. stocks last night, Bitcoin suddenly fell below 101k early in the morning. This pullback has led a group of leveragers to shout collapse, calling for 91K, 83K, and even Ethereum being pushed back to 1800, 1000. What kind of vision is that? Just this fluctuation and it's over? Is it to clean up the balance of retail investors?
First of all, market liquidity is not a problem at all, bulls are still holding on, and the weekly golden cross is still there! If it really crashes as they say, why is the golden cross still there? This wave is just a normal washout; the trend is not over yet. Don't be scared away by those loud-mouthed bears; their loud voices don't mean they have good ideas.
Looking at the macro perspective, the Federal Reserve has loosened again, QE is back, potential rate cuts in mid-June and July, and a large amount of U.S. Treasury bonds are maturing at the end of June. Do you think the Americans will suddenly stab the market at this time? Wake up, the funding situation is still as loose as before; after the washout ends, a good opportunity to enter will still arrive.
As for the target, the analyst still expects a new high. Yesterday, Bitcoin surged to 106K, less than 4% from the historical high, and almost all the trapped chips from the previous round have been resolved. After this washout ends, setting a new high is guaranteed, first looking at the small target of 110k!
In the short term, the bullish liquidity below has not reached the liquidation threshold. There is no strength on either side, and a significant surge cannot happen; it can only oscillate in the range of 106k to 106.6k first. After the oscillation, once enough accumulation is done, there will be another surge.
To be honest, this minor decline hasn't even shown the shadow of a bear market. Who the hell runs away at the slightest drop? Those old investors who experienced from 2017 to 2019 know!
You want to pull out without enduring the storm? Haha! Those who truly understand the market are waiting for the explosion; the new retail investors shouting are only going to be washed away by the wave. Do not follow blindly, when opportunities arise, take action. Learn from setbacks, the turning point has not yet arrived, and those who understand the market see it clearly!
Analyst views the trend:
Resistance level reference:
First resistance level: 104000
Second resistance level: 102800
Support level reference:
First support level: 101500
Second support level: 100600
Today's suggestion:
Since the low in April, Bitcoin has rebounded over 40%, and a pullback at high levels is inevitable. The current price is hovering around the range of 102.3K, with both bulls and bears repeatedly battling at this juncture.
If the price breaks through and stabilizes above the first resistance level of 102.8K during the day, a short-term rebound is expected to continue, further testing 104k. If Bitcoin stabilizes above the second resistance level of 102.8K, pay attention to the selling pressure near this position.
If the price falls below the first support level of 101.5k, be cautious of an N-shaped downward trend. The next focus is around 100k, which is also the position of the 200-day moving average.
If it breaks below the second support level of 100600, this range will also become a testing point for the price. Currently, there will be frequent fluctuations between long and short positions in the short term. If the price retracts near 104K, it may find support around 101K, showing an overall box fluctuation trend.
5.13 Analyst's wave strategy:
Long entry reference: Long in batches in the range of 100600-101500, target: 102800-104000
Short entry reference: Short in batches in the range of 103200-104000, target: 101500-100600
