Bitcoin surged to 108900, and then Trump’s speech at 5 AM directly brought the market down, dropping to a low of 105300, a crash of 3600 points. Yesterday it was clearly reminded that Bitcoin broke through the constraints of the short-term moving average, allowing for further potential towards 10.9. The first touches at 108400 and 110400 can each be shorted, with Sweet Dream publicly bullish yesterday, first targeting 106100+ bullish to 108400, then taking a short at 108400 'first touch' for profit. Bitcoin was shorted around 108600, yielding a profit of 357%.
BTC short positions on Bitcoin have already reached the first take profit near 106100, now waiting for the lower level of 104400. The two recent high points for Bitcoin occurred between June 9 and 16, forming a downward trend pattern with lower highs, indicating insufficient upward momentum. The key position to watch is the red neck line at 106700. If the daily chart fails to maintain the neck line at 106700, with a closing price below 106700, the next K-line will directly determine a short position.
For Bitcoin, pay attention to the yellow upward trend line in the chart, which serves as the support for the upward trend. If it breaks down on increased volume, that will signal a bearish outlook, targeting the lower range of 103700 to 104400. There are opportunities for low buys at 104400/103100 and high shorts at 108400/110400.
ETH has turned bullish after recovering 2580. The subsequent plan is to short around 2655/2720, the former has already been entered with good profits, and the price is approaching the rising trend line, so prepare for take profit on short positions!
There is not much to discuss about Ethereum, 2670/2720 still remains a position for shorting opportunities, and the latter offers a better cost-performance ratio. Within the day, there are rebound opportunities at 2490/2445. The more important support is at 2380.
There are many altcoins, and some are truly unbearable to watch. Looking at the 4-hour chart, the daily chart is meaningless. For instance, $OP and $FIL are both forming monthly head and shoulders and have broken below the monthly support line... If we consider a 1:1 proportional decline, OP will likely break even and fall below 0.4U; FIL may go below 1U. These so-called 'value coins' from the past have truly hurt retail investors severely.
Every project's growth window and lifecycle are limited; if missed, they won't come back. The growth speed of altcoins in the current market cannot be compared to 2017 and 2021, so it’s essential to embrace genuinely valuable projects—those capable of capturing funds from the US stock market (1) altcoins with ETF opportunities: xrp ltc doge sol avax sui dot bnb ADA PENGU APT MOVE HBAR AXL BONK TRUMP TRX (2) projects clearly reserved by listed companies: listed company TRNR announced last night that it raised 55 million to acquire $fet in the secondary market.
In this round of the bull market, if there are altcoins that can rise, they are likely to be projects capturing US stock market liquidity. On-chain recently, Bonk's platform is quite lively, and the market is starting to reposition. Play degen with Bonk, dev with Believe, cabal with ETH, institutional with Base, and leadership with BSC. If large funds continue to flood in with stablecoin legislation, the main narrative of the bull market should still focus on on-chain infrastructure, which can accumulate long-term value. If on-chain stablecoins reach 2 trillion, it’s likely to lead to a greater amount of funds and liquidity on-chain than in US stocks; at that time, there will definitely be a major construction boom on-chain, just like China's real estate in the past 20 years, so don’t miss out on various infrastructure leaders. Lastly, regarding this week's turning point: The Fed's benchmark interest rate decision is in 29 hours, with a 99.9% probability of remaining unchanged. The Fed's spokesperson also indicated: if not for the risks posed by tariffs on prices, the Fed would be prepared to cut rates this week. It seems that the wise king will have something to say to Mr. Too Late again. It’s meaningless; BTC will likely move slightly up and down with Powell’s speech, just to show respect before it ends.
