The crypto space has exploded again! Trump's ally has invested $1 billion, causing Bitcoin to soar instantly! This market dropped for a day and then rebounded overnight. In the last 24 hours, there was a major short squeeze, and the upper liquidity level remains thick; there are still many people bearish on the market, and liquidity is too abundant. Everyone should be cautious when trading and avoid becoming liquidity.
Today's market highlights:
1. The stablecoin bill has been submitted to the Senate, and the market has begun to hype topics related to stablecoins, such as fxs, aave, crv, ena, lqty, etc., with significant lifts in the past 24 hours. If the Senate passes formal legislation, it would be a super favorable event for crypto, and explosive growth in stablecoins would promote growth in crypto market value.
2. In terms of CEX, altcoins follow Bitcoin's trend. As long as Bitcoin reaches an ATH, altcoins will soar.
3. The Farcaster verification function is about to go live, and at least $25 must be held in the wallet.
4. Virtuals' proxy staking is now live, allowing for point earnings from staking. Currently, Binance alpha points and Virtuals points are continuously being earned.
5. Strategy purchased 7,390 Bitcoins between May 12 and May 18, with an average value of $103,498 (total: $764.9 million).
6. BitMEX co-founder Arthur Hayes predicts Bitcoin may reach $200,000 in the short term. He currently manages the family fund Maelstrom and analyzed ETH and altcoin markets in an interview, explaining that allocating 20% to gold assets is due to his bullish outlook on gold prices.
Bitcoin is oscillating at a high level, waiting for ATH and a restoration of market confidence to ignite the second half of the market?
Current bull market conditions have matured: FTX releases $5 billion in liquidity, expectations of interest rate cuts by the Federal Reserve, the stablecoin bill by Meitu has passed, and the credit crisis is favorable for gold and Bitcoin, among others. These certain events combined with potential positive factors create many opportunities in the second half of the year. Don't fall before dawn; stay away from contracts and maintain cash flow.
Currently, on the 4-hour level, 106500 remains a key position. If it can't break above, we can expect a pullback. Only by breaking above can it continue to rise. The support observation area has been updated to the orange range; if it holds, it can continue to rise. If it breaks below this, the upward trend will end.
Subjectively, I still judge this as the final distribution (leaning left), and after the distribution is completed, there will be a pullback; from an objective perspective, it must break below the orange area to turn bearish.
Ethereum is rising with reduced volume, obviously lifted by the US stock market.
Yesterday's 2360 and 2375 longs have already helped you guys cover today's expenses. No need for more words, let's get straight to the strategy: For ETH, pay attention to support levels 2403, 2343, 2285, 2215, with resistance tentatively set at 2851.
Today, Ethereum has directly lengthened its cycle; looking at the Ethereum weekly chart: The strong resistance level (2605-2857) can't be crossed; otherwise, it will drop. Don't engage in trivial matters; this chart is simple and clear, right?
In summary, there are many opportunities in the second half of the year. Everyone must not fall before dawn; stay away from contracts and maintain necessary cash flow. Of course:
Getting out at the top is more important than catching the bottom!
Reaching the top takes time to form a resistance wall. The last time I analyzed, the market would last about 1 to 2 months, meaning around June would be the peak phase of the top formation. Therefore, gradually exiting is the wisest choice. Whether there is a rate cut does not affect Bitcoin's adjustment; the cyclical trend has changed; Bitcoin will rise first, then altcoins will have space.
In this wave of market activity, altcoins will have scattered hotspots, but more will occur at the first level; the second market is still being drained by Bitcoin. I sense a big market in the secondary market by the end of the year, and I've been treasure hunting at the first level these past few days. I'll provide a detailed update internally later.
Today let's talk about 3 coins:
DARK 12.7M
In this wave of the AI series, the MCP leader, although DPCORE surged to 10M, will rotate. After a significant washout, it is currently stabilizing on the daily level, with a recent potential breakout. The Solana hackathon is generating excitement, and project movements include developing the 'Jarvis' wallet.
SSE 12.7M
Solana's largest social protocol interacts frequently with Solana's official team. Lunchpad is about to go live, and the project's background and technical capabilities are quite good. The coin price has undergone significant adjustments and consolidation, with daily trading volumes exceeding 1M.
These two are coins that I tracked very early and gained several times in returns. They have experienced the great baptism of the market and are still performing relatively actively.
WIF
The hat dog may have completed a small pullback in the short term, with very little movement, offering no chance to short; the bottom is continuously exploding in volume, showing strong momentum; there are short-term entry opportunities, with a head and shoulders bottom in the short term; one can wait for a breakout above the yellow neckline to enter, and if it goes in a balanced way, it will create a new high.
Entry price: 1.3, stop-loss price: 1.0827, target price: 5.77, expected increase: 343%.
