The U.S. is now trying various methods to collect taxes for the tax reduction plan. Keep struggling; the more they struggle, the better it is for crypto.
Last night, Bitcoin and Ethereum were in a downward trend until this morning. Over 24 hours, Bitcoin fell by 1% and Ethereum fell by 5.4%. Altcoins also followed the pullback, so many people might feel a bit anxious when they wake up and see their accounts, wondering if this wave of the market is coming to an end.
Don't panic; first, let me analyze the market situation for everyone:
Bitcoin (BTC)
In the recent weeks' trend of BTC, it has been rising along the EMA20-30. As long as it does not break the moving average, it is considered bullish. However, technical analysis is not absolute; even if it breaks down, it may still rebound. It can also break below the moving average to stop-loss and continue buying once it recovers. It is advisable to pay attention to the important positions around 100910-10220. From the perspective of main player accumulation, as long as the main players have not exited, one can continue to hold for future gains.
From the perspective of return rates, the dividends of Bitcoin have indeed reached their end. However, for those willing to lower their expectations and lay out long-term positions, the real entry opportunity has just begun.
Moreover, the accumulation of BTC main players is also increasing, but it is not necessarily the main players buying. However, it can be confirmed that large institutions optimistic about the future market trends are increasing their positions. The main players of BTC have not sold off, and the pattern continues.
In summary, after Bitcoin adjusts well in the past few days, the probability of rising in the future is much greater than that of falling.
Ethereum (ETH)
Recently, I am optimistic about ETH, and the altcoin market is expected to welcome a second wave of a minor spring. The first wave of contract control has ended, and spot main players have gradually entered the market, so don't go short. ETH may rise strongly after adjustments. It is expected that ETH will show a short-term low point in the next two days; if it holds above $2400, the upward trend will be established. Currently, the daily chart of ETH on BTCIM has not touched MA60, and there are many opportunities in the altcoin market.
Pay attention to tomorrow at 16:00 for the 4-hour closing, which may trigger ETH's rise. If it doesn't recover to $2400 today, then it confirms a 4-hour downward trend. Overall, I lean towards a bullish view in the short term.
In the Binance spot market, OG, Moodeng, Pnut, and major ETH coins, as well as MEME coins like Pepe, have all reached good buying opportunities during the pullback.
About on-chain
New activities are launched on BSC, with Alpha events frequently occurring. It is recommended to actively accumulate Alpha points. Meanwhile, the MEME market is worth paying attention to, and the ecosystem on the SOL chain is regaining heat, which is also worth noting. For those who are stuck with altcoins they have bought, it is advised to patiently wait for the market to warm up; those stuck with spot positions need not panic and can continue to hold.
ETHS
As a payment token for Facet, after receiving investment from the Ethereum Foundation, it has surged by as much as 5 times today. I shared ETHS early on and have been holding it. With the Ethereum Foundation's involvement and the support of Facet's founder, ETHS has undergone a transformation, and I remain optimistic about its future development.
Mirai
It is about to break through a market value of 30M. If held during the presale, the profit has reached 130%. Currently holding 1% of Mirai's chips, looking forward to being listed on Binance. Skyai and Mirai have successfully seized opportunities, but I did not participate in the three times and 10k. The recent presale success rate is relatively good. The Mirai project team still holds at least 20,000 SOL unused, which can be used to drive up prices.
KEKIUS
After Musk changed his profile picture, the market capitalization on the Ethereum chain surged from 26M to 60M. The major IPs related to Musk are mainly concentrated on the Ethereum chain. Whether it's Musk's profile picture or KEKIUS, both are related to the frog FROGGER, with a narrative of V God holding the largest position (possibly upgrading, being empowered) and Musk's support, which presents a broad prospect. Large IP projects on the Ethereum chain usually have larger market capitalizations, concentrated funds, and continuous development is expected to achieve significant results.
Let's review the two coins I recommended earlier.
CGPT
Continue to hold. Positive factors are still effective, and the speed of several pullbacks has been very fast. The project team’s token buyback has not yet ended, so be patient and hold on.
SUSHI
The bottom support is very strong, so there's no need to worry. This coin previously had very little presence, but it has gained volume during this period, indicating that the project team must be up to something. Just continue to hold.
OG
I have repeatedly reminded everyone to lay out 0G. The first recommendation was at a price of 4.233, which peaked at 6.666 on May 12, an increase of 57%. The second recommendation was at a price of 4.506, and the current price of OG is 5.312, an increase of 17.8%. (I mentioned this again in today's article.)
PORTAL and REI topped the gainers list today.
Last night and this morning, I scanned some small altcoin charts and made two medium-short term long positions. When mainstream altcoins pull back, small altcoins often take this opportunity to rally. I chose these two with relatively good structures. Today, PORTAL is at 333.66% and REI is at 145.17%.
Also, the fan tokens ASR, ATM, PSG, and CITY that I recommended yesterday basically did not have a larger pullback than other tokens and did not even fall.
Wait for the Club World Cup to ferment; this time it is quite powerful, with a prize pool of one billion dollars.
If your position is currently empty, then all the recommendations I made above for spot can be entered. If your positions are full, just wait patiently for the flowers to bloom.
