Market Review and Analysis
Yesterday in the morning assessment, we mentioned watching the rebound resistance first, but the resistance rebound during the day was a bit strong, directly breaking through the intra-day resistance position and continuing to surge. This round is again a solo performance by BTC. Of course, during this process, ETH also slightly caught up. It attempted several times to break through 2520 when the big coin was around 108000 but failed. However, with the drive from yesterday's big coin surge breaking through the intra-day trend, it has now driven the second coin to around 2600, the current market doesn't worry us about waiting in a short position being unnecessary or missing out on subsequent moves. What I am most concerned about now is whether this market will be the peak, and then there will be no market. This is currently the point of concern. The market consolidation has taken a bit too long. From initially clearing positions on May 14 and waiting to be bearish in the 2000-2200 range, this goal has actually been achieved. However, for the sake of stability, I am waiting for a more reasonable second probe to enter the market. But currently, the second probe hasn't been given, or the new lows haven't been provided, so I will continue to wait. It's better than chasing high prices and getting trapped, especially at this time when the market shouldn't be pleased with temporary gains, nor should it be disheartened by temporary losses. Never think about chasing after rises, or else it will just be another mountain top breeze. It's best to calmly wait and advise oneself to stay calm; the market currently lacks liquidity, which proves that the market lacks sustainability; this is just a brief wave of movement.
Today's Highlights Interpretation
The BTC market is currently approaching the 110,000 position. This market is somewhat similar to the movement from June 11 to 17, but last time it dropped from 110,000 to around 102,500 before rebounding to around 109,000. This wave fell from around 109 to 105 and quickly rebounded to a new short-term high. There is still some difference in the force. BTC is currently rising without volume. In fact, it doesn't show much volume; it's just that the selling pressure for BTC is very small right now, many people are unwilling to sell, but the buying volume isn't very large, which leads to the current situation. Today's correction is quite normal. The key is to see where the correction goes. The first support position to watch is around the intra-day level of 107,000. The focus still needs to be on the support defense line in the 105-106,000 range.
The ETH market has this time effectively made up for the rise. However, compared to the previous BTC price around 110,000, it is not equivalent. The previous ETH high was around 2880, and now it has only rebounded from 2100 to around 2600, which is not a very strong rebound. Therefore, for the current market, the increase in liquidity is visibly scarce. Moreover, from the current trend, ETH is still in a weak phase. The big coin's correction today will also lead to the second coin's pullback. First, watch the support point at the range of 2450-2520. If it breaks below 2450, then in comparison to the big coin's 107,000-106,500 position, one can directly look at the range of 2320-2360.
Still the same saying: Don't be complacent because of temporary gains, and don't be disheartened because of temporary losses.
Maintain a calm perspective on the current market conditions and environment. Recently, many are definitely bullish. It's a norm in the market to chase after rises. Whether one can persist in such circumstances is the greatest test of one's mindset.
