We need to remember: every decline in Bitcoin is an opportunity for us to get back on board.
These days, the market has dropped due to the back-and-forth between Old Horse and Trump 🥹, and we small investors are the ones getting hurt 🥹. It was the late-night argument that caused us to open shorts, and we didn't even have time to stop-loss 🥹.
On the 6th, it reached a recent low, luckily not breaking below 10WU, and forming a double bottom, which indicates a subsequent rise.
Recently, the market has been consolidating around 103,000–104,000 for a few days, and today it has restarted and broken through 105,000.
📈 Short-term technical analysis and market sentiment
• Technical indicators: The market is neutrally leaning towards bullish, with increases over the last 15/30 trading days and a volatility of about 2.4%.
• Moving average structure: Daily and weekly charts are both bullish, with the 20/50/100/200 day moving averages trending upwards and strong support.
• Key support levels: The current weekly support level is in the range of $105,000–$105,425, with major support points at $100,800 and $96,559 (corresponding to the 50-day and 100-day EMA, respectively).
• Resistance reference: The short-term upper resistance to focus on is the range of $108,000–$112,000, and if broken, it may push to new highs.
Overall, most predictions suggest a potential increase of 10-15% in June to July.
It is also worth mentioning that Solv has recently ventured into the RWA field, promoting the alignment of on-chain bonds with real-world assets, which is expected to attract more compliant funds into the market. For Bitcoin, this influx of funds will enhance overall market liquidity and confidence, constituting a substantial positive factor.
Recently, everyone can stock up on some Bitcoin to earn coins on-chain. You can also earn some interest, and if the U.S. lowers interest rates next month, Bitcoin is likely to break new highs.