The chaos led by Mr. Chuan has caused a dramatic shake in the cryptocurrency market, with a 24-hour liquidation volume of nearly $1 billion, mainly involving Ethereum and Bitcoin, as the market turns bearish. If the price falls below 102,100, another $900 million liquidation will be triggered.
From exiting the JCPOA to precise airstrikes, undoubtedly pushing the strategy to the front lines. Today's US-Iran dialogue has led to a short-term market rebound, with sentiment warming. Steady trading of BTC contracts can still yield profits, even with small funds and positions. When bottom-fishing, choose quality coins, as there may be hopes for future ETFs. Everyone who comes to play this wants to change their fate; playing with garbage coins is not as good as doing food delivery.
BTC
The weekly Bitcoin line has not yet broken the key range, but large buy orders have clearly decreased. The market has entered a period of low trading volume, particularly noticeable in July and August every year. During this time, it could drop to 93,000 points, and altcoins may also experience significant corrections. For these two months, rather than pursuing profits, it’s better to aim to preserve the principal. There may be another low point opportunity within the year, and the 97,000-94,000 range lacks support; if it breaks below 97,000, it could quickly drop to 93,000.
ETH
This weekend, it's all because of Mr. Chuan's flip-flopping, leading to a wave of pinning at a small broken position. This wave has dropped about 26% from the highest point, with the four Mondays in June showing a similar trend, basically horizontally or pinning over the weekend, and starting to rebound around Monday.
Currently, the daily green channel support is in place, and the rebound strength awaits observation. This is currently an oversold rebound, with significant liquidation at the upper level of 2293, expected to rebound to around 2320 before falling, with a strong move possibly reaching 2385. It is not advisable to chase the price now; the US stock market opens tonight, making it unsuitable for both long and short operations.
Reminder: Due to the existence of contracts, whether going long or short, if there is no acceleration, do not easily enter the opposite direction; acceleration can indicate the appearance of long upper and lower shadow candlesticks.
Many fans are asking: what conditions must be met to allow the price to quickly escape the 104-105 range and rise above 111,000, even higher, digesting the accumulation of chips above 100,000?
Prices cannot only rise without falling, nor can they only fall without rising. Waiting for the Middle Eastern geopolitical situation to end quickly? Interest rate cuts in July? Tariffs ending without any effects? Are these things achievable in the short term, that is, within 1-2 months? Moreover, it needs to bring in massive liquidity to drive up prices, which means all chips below 110,000 have made profits; how much money does that require? What kind of sentiment can stimulate that? Can it be done in a short time of 1-2 months?
If not, then the operation trend of the $BTC chip structure is naturally self-evident.
Many fans are asking about the crash market; which altcoins can be bottom-fished?
Taking $FUN as an example, the current daily line has reversed to overbought, with large sell orders appearing at 0.0153, showing characteristics similar to ‘family crash-type’ coins (such as $LYAER, $AUCTION, $OM). Both spot or contract trading must strictly manage risk to avoid withdrawal risks. Shorting can consider small positions and wide stop losses, best to open positions near the sell order price.
It's recommended not to bottom-fish for now, as Bitcoin has not confirmed its bottom yet, so the coins have not bottomed out either. The market has entered an adjustment period, making counter-trend operations very difficult.
During the washout phase, there will also be repeated ups and downs with pinning. Small funds can do short-term operations during the day, but do not think about adding funds to bottom-fish. The larger market economic environment has not changed; the Federal Reserve is not lowering interest rates, and issues like tariffs and war will all affect the crypto market.
On-chain
$GASS
Cat coins are both loved and hated! The dog operators washed out too harshly, half of the retail investors' chips were washed away, and their psychology was manipulated. The team is working hard on certifications and songs, but last week it fell, with market value shrinking by two-thirds, causing many retail investors to flee. Official hype is favorable, and finally, there was a bullish line yesterday, ending the washout. In the MATT universe, only $ZEU dog and $GASS cat have a chance; other coins are basically dead. The current market is poor, and it would be good to return to a market value of ten million in the short term.
EGL1
It surged again! I bought $EGL1 on June 8, and it was mentioned in the article that day. This wave of hawkish Y1S1, $EGL1 is quite impressive. The USD1 competition is like a rally, with strong operators coexisting with muddle-headed players. After the market stabilizes, pay attention to the performance of other coins. Extreme panic is a washout opportunity; if the coin price remains still after stabilizing, caution is warranted.
