Trump said yesterday that he would impose tariffs on Europe. BTC then plummeted. It is currently undergoing a Bollinger Band 8-hour level correction and is in a stabilization state after a decline. Yesterday, I reminded that Bitcoin's recent rise was coming to an end, and then the market dropped by 5,000 points, with a significant volume of decline, preliminarily validating my viewpoint. After Sweet Dream published the article yesterday, I took the opportunity to open a short position at 111,298, with a take profit price of 108,644, making a huge profit of 305%. Fans who read my article yesterday probably made a lot of money from shorting.
After taking profits on the short position, Sweet Dream noticed that Bitcoin was approaching oversold on the hourly chart. The US stock market opened and held at 108,400, showing potential for a rebound, leading to a long position, making a huge profit of 171% in this wave of market. Sweet Dream has indeed eaten both sides, posting in real-time during significant market fluctuations. This is the feel of an experienced trader.
The upward trend of BTC Bitcoin is maintaining very well, and currently, it is just a technical adjustment. A -4% drop in Bitcoin during a bull market cycle is a normal phenomenon. If you want to find reasons, you can say (1) Trump's tariff news is bearish, (2) after a big rise, a correction is needed, (3) the 'dog trader' is targeting that $1 billion big player. Bitcoin is overall in a 4-hour level upward trend and is in a retracement phase. Last night, the volume drop broke the short-term structure. The current rebound is hindered by the previous high. If it cannot return above 108,600, it is expected to continue testing the key support at 106,000. The Bitcoin Vegas tunnel has not been revisited since the 4-hour golden cross. If it does, it would be the best entry point, roughly in the range of 102,000-104,000.
If Bitcoin retraces the script: there will be obvious support at 103, and after a period of sideways movement, it will directly accelerate to break below 100,000, reaching 98, then quickly recover, eventually forming a long-term oscillation between 98-115.
This weekend, there will be a good show of 'Sniper Soldier James', but if Bitcoin ultimately does not form a large range oscillation (stabilizing above 108), then James can withstand it. ETH's daily level has always struggled to strongly break and stabilize at the $2,800 bull-bear dividing line, and there are indeed too many trapped positions in ETH at high levels, with a total of 3,900,000 ETH in a state of unrealized losses before being released.
However, ETH is currently accumulating in the $2,530-$2,640 range, indicating that there is capital willing to accumulate chips at this position. (1) On May 22, there was capital increasing holdings at $2,538, increasing the chips at this position from 900,000 to 1,530,000.
(2) Whales that built positions around $3,600 in December 2024 have been replenishing as the price fell, with the current average cost around $2,574, holding a total of 1,940,000 tokens; these should all be steadfast ETH holders. More positively, the low-cost chips accumulated around $1,500, $1,600, and $1,800 have not shown obvious reductions, and I believe this will provide positive momentum for ETH to break through upwards again. If BTC can maintain high-level consolidation next, will it be ETH's turn to perform? Let's wait and see!
Altcoins have risen and then fallen back again in the past few days. Currently, to find altcoins stronger than the market, one only needs to look at the daily level, where they have not fallen below the K line of May 22. Examples include: nxpc, bgb, jup, saga, etc.
In fact, a decline is not entirely a bad thing. After a big drop, there are cheap chips everywhere in the market. Whether one dares to seize the opportunity to buy depends on individual mentality. Gradually bottom-fishing and building positions is currently the best trading strategy. One might as well treat the current situation as a bear market and adopting a dollar-cost averaging approach is also a good choice.
On-chain
$B
$B was violently pulled back after panic selling due to fake news last night, and those who believed it made a big profit. Today, the people at worldlibertyfi woke up and returned to normal, and USD1 continued to play music and dance.
BSC is currently the strongest meme coin in consensus and is launched for quick access, backed by the Trump family, and deeply tied to USD1, with political narrative + retail sentiment both at full throttle. Currently, USD1 has opened trading in the Binance main battle, igniting the usability narrative of USD1 on-chain. You can understand it this way: $B's pump allows more project parties to connect to the USD1 pool, bringing this stablecoin to life, now reaching the critical peak, feeling good.
$Jager
After enduring the final selling pressure from LPs, it entered the full circulation phase, and the coin price stood firm. The 22nd-23rd is the last batch of LPs participating in the two pools to unlock their coins, so when the market discovered the selling pressure was over yesterday, it immediately began a violent rebound, almost doubling. Yesterday, a post about Bnbchain data shared by CZ included a $Jager tag; although it might just be a passing mention, it still formed a wide-ranging spread, indicating that the community still knows how to play.
