The crypto market surged and then fell back. Bitcoin once surged to 108k before falling back slightly, fluctuating around 106800. Yesterday, Tianmeng reminded in the article (Epic differentiation! Bitcoin soared! Return to 108,000 this week? The altcoins were cut in half and collapsed! The altcoins sold $150 million, bottom-fishing or escaping?): Bitcoin has now broken through 106800, and the next pressure range is 107500-108000. If the small level continues to stay above 105500, it will sweep the rhythm of the limit liquidity in the range, and look at 108600 first. Bitcoin surged 2,000 points as expected last night
BTC price is under pressure again below 108380. 105290 is the key support/resistance level. Only when it falls below this price can the market go bad. Considering the FOMC meeting on Wednesday, if it does not break through 108380, it may tend to continue to converge in a narrow range between 106-108. Our view on the overall market in early June, that is, the bottom of June 6 (pre-FOMC reversal + bottom at the beginning of the month) and the top at the end of the month (i.e. between 21-25), is still possible at present.
There is a high probability that the market will change around the 20th, and there will be a secondary rebound. In the past two days, the main force began to accumulate funds, preparing for the subsequent secondary rebound? In the future, I will still mainly buy on dips and prepare for the subsequent rebound.
After BTC broke through 11w, it didn’t fluctuate much, only about 10%. In fact, I think it’s a high-level consolidation trend, and there’s a high probability that it will continue to rise. From a big cycle perspective, it’s a trend of breaking through and then falling back to continue to rise. It’s just that most people are doing copycats and have been washed up badly. In fact, the trend of many mainstream coins is not bad.
ETH reached a high of 2680 last night. Tianmeng went long at 2577, hitting the current 2650 accurately. Then Tianmeng went short, making a profit from both long and short positions. The fans who followed the trend ate until their mouths were full of oil. If the rhythm is right, everything is so beautiful. If the rhythm is wrong, you can only passively stop losses! Don't make rash operations when you are all-in!
Ethereum's recent strength has weakened and it has continued to fluctuate within 47 days. Currently, Ethereum 2558 is the support/resistance level, and 2496 is the support level. This may be a turning point, and we tend to be bullish. The strongest support is 2500 and the strongest resistance is 2720. It is suitable for operating in a volatile market.
SUN
SOL148 is the support/resistance level, 142 support level. The price breaks through the downward trend line, tends to turn bullish here. Currently, the spot ETF approval has entered the final stage, and it is almost 100% to be passed. When it is approved, SOL may surge by 20% on the spot, and then wait for Wall Street funds to enter the market and rise again. This is all foreseeable.
When will SOL's spot ETF be approved?
It should be approved in the second half of this year, possibly in July, but the greater probability is after September, so we are not in a hurry now. When the SOL price falls back, we can buy it at a lower price. Judging from the K-line, SOL is indeed very cost-effective and can be bought on dips.
This week’s focus: Federal Reserve interest rate meeting
The Fed's interest rate meeting on Thursday morning was not optimistic. The conflict in the Middle East caused oil prices to surge by 20% on the spot, and the cumulative increase was 40%. Oil is the weight of inflation. It has risen by 40%, so the next inflation will definitely be ugly, which also caused inflation expectations to soar. So in this case, if you want Powell to make a dovish speech, I think it is difficult. The probability of bad news is not small, so everyone should be prepared for this.
The current interest rate market predicts a rate cut in September. It will be bitter before sweet. July and August just give us the opportunity to enter the market at a low price.
New changes to Trump's tax cut bill
With the 90-day suspension of Trump's tariffs set to end on July 8, trade developments are likely to continue to unsettle the market. In addition, Trump's tax cut bill has been revised again, with $16 trillion in spending, which is a short-term negative and a long-term positive. It is a short-term negative because reducing spending actually means reducing consumption, thereby reducing the amount of money flowing into the market, but it is a long-term positive because it will help reduce the US deficit.
So in short, I will pay special attention to the Federal Reserve meeting and the tariff progress on July 8 in the near future. I believe that after watching this video, everyone should be able to have a clear idea of what is going on. I hope everything goes well.
