Last week, the entire crypto market had a big turnaround. Both Bitcoin and Ethereum closed with a medium-sized positive line on the weekly chart. This is completely consistent with Yiming's judgment on the 16th that the bulls will counterattack before the Dragon Boat Festival. Before the Dragon Boat Festival, the bulls will definitely show a counterattack signal. At that time, as long as you read the article carefully and strictly implement it, you will definitely get the meat. It is easy to conquer a country but difficult to defend it. At present, Bitcoin has conquered the mountain. Whether it can hold on to the chips in its hands depends on its own cognition. Regarding this week's market, Yiming has the following views for reference:
1: The bullish trend is still there, and it is more likely that Bitcoin will fluctuate upward in the next two weeks, and the straight-line upward trend has ended.
2: Last week Zhou Ming emphasized Bitcoin in his article. This week the focus is on Ethereum. During Bitcoin’s consolidation period, the funds freed up in the market will flow to Ethereum. There should be another opportunity for a sprint later.
3: Before Bitcoin reaches 36,000 and before Ethereum reaches 2,400, the main idea is to buy low and hold positions. This position is not groundless, but has a basis. If you don’t know, you can look at the previous article content. If you can ambush the chips at the support level, don’t move, don’t increase your position in the middle, and don’t get off easily.
4: In terms of operations, spot trading is the main focus at the current stage, and the total position is controlled below 60%; it is recommended to reduce the leverage of contract trading to less than 5 times. If you operate according to the spot thinking, you can also make money. No matter what you trade, trends are king.
Trading is like fighting a war. You must have forward-looking thinking and plan ahead. You must know what to do and when to do it. You cannot just go all in in the market with the chips in your hand. And don't think about taking advantage of all the hot spots in the market. It is a big taboo in trading to have your cake and eat from the bowl and look at the pot. After a wave of market conditions, it is enough to have the opportunity to take advantage of 2 to 3 times.
Since the rebound from 15443.2 at the end of last year, there have been three weekly increases of more than 15%, and the increase from the lowest to the highest has exceeded 100%. Among them, the cumulative increase of the K-line in these three weeks reached 65%. From this picture, we should summarize and reflect on several issues:
1: 70~80% of the time in the market is spent waiting. Patience is needed for opportunities to emerge, and most leeks come to this market with an impetuous mentality, so it is difficult to make money. It is not that they do not have good chips in their hands, but that they are too impetuous.
2: The increase in these three weeks accounts for 65% of the entire market increase. It took 31 weeks from 15443 to last week. It took only 3 weeks (9.6%) to complete 65% of the gains. What does this show? Belief, persistence, as long as we are in the right direction and the time is right, the market will give us enough returns.
3: After the first two large and medium-sized positive lines appeared, there will be shocking K-lines in the next two or three weeks, but the overall trend is upward. This time should also continue this trend. This is a time to test human nature.
This week's operation suggestions:
BTC: Support range: 29400~29600; Resistance range: 34600~35900
ETH: Support range: 1845~1865; Pressure range: 2090~2240
Only after the passage of time can you see the coordinates of history clearly; standing on the top of a mountain, you can appreciate the rushing of the river; persist for a few days, be the "noble person" in your life, and give yourself a chance to enjoy the boiling market!