6.22 Alarm 🚨 The situation in the Middle East escalates again, and the crypto market is in chaos!
This morning, the U.S. officially intervened in the Israel-Palestine conflict, while calling for a ceasefire and announcing two weeks of negotiations, they simultaneously took military action against Palestine. Every one of these outrageous moves is infuriating; their words are as empty as flatulence! The U.S. intervention has made an already tense situation even more chaotic.
The crypto market was also in disarray this morning, following a sharp drop on Friday, it faced another decline on Sunday morning, with Bitcoin dropping 2000 units to the neck position at 100,000. Ethereum plunged by 200 units to 2210.
The positions below 102000/2350 were raided again, with the market showing a bearish dominance. After a round of sharp declines this morning, the market has recovered to around 102500/2275.
On the four-hour chart, the positions are warming up, with bearish volume weakening. The MACD shows signs of the DIF crossing above the DEA, but the bearish trend of the EMA7 crossing below the EMA30 on the daily chart has not yet ended, with the histogram displaying a bearish arrangement. In the absence of positive news, the overall trend still leans towards the bearish side, and short-term operations should focus on range-bound fluctuations.
Yumi emphasized yesterday that the overhead resistance and recent macroeconomic and geopolitical factors currently have no good news, and the tense situation continues to escalate, with the market expected to fluctuate back and forth according to news.
Tonight, we will first observe how the positions move upwards; if they can return to 104000/2350, there may still be an opportunity to push up to 105000/2420; otherwise, they may continue to decline.
Yumi recommends
Bitcoin to trade around 101500-104000 for high sell and low buy
Ethereum at 2250-2350.
