In the evening, Bitcoin plunged sharply, dropping about 1.5%, with the price hovering around 104k. A total of 73,020 people were liquidated globally, with a total liquidation amount of $152 million.
The current key points for Bitcoin are 103,055 and 107,100 as upper and lower boundaries. In yesterday's article (June 1st, bloodbath in the coin circle! Bitcoin at 100,000, buy the dip to get rich or short for profit? Ethereum made a fortune! GASS skyrocketed 105%, ZEN surged 68%! Altcoin gold orders are coming!), it was suggested to go long near 103,000, and indeed it gave us a short-term long opportunity, later rising to around 105,000, securing a profit of $2,000.
Yesterday it was indicated that 106,000 is a resistance level, suitable for shorting or selling at highs. In the early hours, BTC reached this level, and followers who acted successfully profited from their short positions—congratulations!
Bitcoin
Since Bitcoin broke below the rising trend line near $109,000, a short-term adjustment has become inevitable, with the current price fluctuating between $102,000 and $105,000. This week is a key point; if it can hold this range, a new round of upward movement may begin; if it breaks down, the short-term trend will deteriorate, or face a deep correction.
This round of price increase has been rapid, not giving investors sufficient response and entry opportunities. Normally, the market will not easily end, so it's highly likely to stabilize around $100,000. I believe there is still upward space in the future, and June will likely continue to see positive candles.
Just a joke: At first, Liangxi said JamesWynnReal is a hype dog, and I didn't quite believe it. Now I slowly feel that this possibility is very high.
The market initially thought the main force was liquidating James, and then the price dropped, with everyone unaware of the anomaly as their attention shifted. In reality, this was the main force unloading, a typical case of 'openly repairing the road while secretly making a crossing.' Data shows that the long contracts accumulated by the main force before April 17 have basically all been liquidated. Liangxi may sometimes seem a bit eccentric, but occasionally hits the nail on the head, showing a keen insight into the essence, haha.
Ethereum
The Ethereum whale is too dog-like; the contract has moved $60 billion in positions, but the spot is still secretly accumulating. It seems they haven’t had enough yet.
Understand? This position indicator suggests that it's time to build a position; what to do? ETH really doesn’t want to drop, forming multiple bottoms, but unfortunately, BTC is still a bit weak. It can't seem to strengthen, and once BTC strengthens, ETH will take off!
In the market, being obsessed with 'buying the dip' and 'selling the top' is a trading taboo, but to succeed in short-term trading, one must possess the ability to 'buy the dip' and 'sell the top.'
Here, 'ability' does not mean guessing the direction based on intuition or drawing lines at random, but rather making stable decisions based on statistical advantages, relying on systems, data, and discipline. The most crucial factor is whether the market cooperates with your strategy. For example, this trade in SOL performed well; next, wait to strike hard when the market shows 'interesting' orders again.
Playing with the new book IP from Matt Furie, I feel like I'm becoming the Conan of the crypto world.
GASS coin has surged again.
The price surged to 0.0000003268, achieving a small target of 10 million, with a rise of 400%! From 3.1 million to 12 million, a fourfold return! Early followers have already made a fortune! The next target: 50 million!
#GASS cat coin's craze has also driven related coins from Matt Furie's new book. Top narratives require patience in holding. Besides GASS continuing to pump, IP-related GORTH and BOOCHIE are also rebounding. The new mouse coin $RATOS mentioned multiple times in the group has reached a new high, and the derivative effect of cat coins is becoming apparent. However, the mouse coin $RATO is completely stagnant. There are no established rules in the crypto world; the first to peak is not necessarily the leader, and the slow-burn does not mean no potential.
Matt Furie Universe
Many tokens have surpassed a market value of one million, and the heat of this IP is still ongoing, most likely to produce a second $PEPE. Today I discovered a new project, peepoofurie, the 'father' of all comic characters. Its token $PEEPOO has not yet launched, worth keeping an eye on.
CA
WLFI is offering this $1 liquidity reward, with $B as the leader most likely to win. However, as the event organizer, the reward probability for $B needs to be reassessed. Therefore, attention turns to the second leader $CA. Currently, the trading volume of $CA in the $1 liquidity pool is second only to $B, and there are no competitors among old projects. According to the reward rules, one new project and one old project will be selected. $CA fully meets the criteria for old projects and is the only qualifying project.