The United States faces a debt crisis. Will BTC become a safe haven?

In the past two days, the US sovereign CDS has soared, and it can be seen that CDS has exceeded the 11-year historical high, which means that Wall Street is worried about the default of US bonds because the US tax revenue is not increasing.

Another reason is that the US debt is facing its ceiling, the Federal Reserve's account TGA has dropped sharply from 1 trillion to 36.5 billion US dollars, and the United States is about to run out of reserve cash.

No money? Just print it. Wall Street has just adjusted its expectations for interest rate hikes, which has a positive effect on BTC. After all, BTC is pegged to the US dollar. It’s not that BTC has risen too much, but that the US dollar is becoming less and less valuable.

It has to be said that the trend this year is too similar to that of 2019. It can be seen that at the end of June 2019, BTC reached its peak of the year. If BTC is compared with the previous two bear markets, these two weeks may be the last "good times".

History is always surprisingly similar, but it will not simply repeat itself. I hope BTC can bring new surprises in the second half of the year.

BTC：

BTC retraced to the 5-day line and made a V-shaped rebound on the hourly line, confirming the bottom support. The $27,345 below is the key point of the W bottom. BTC stood firmly at $27,345. The bulls increased their support and will further strengthen the market. Next, BTC bottomed out and rebounded at $27,345.

Resistance: 27885, 28256, 28653

Support levels: 27345, 27122, 26854

ETH: ETH retraced to the 5-day line, and the hourly line inserted needles several times, confirming the bottom support. The $1839.4 below is the key support of the box formed on April 22. Only by standing firmly at $1839.4 can it bottom out and stabilize and enter a repair and rebound trend. Next, ETH inserted needles and rebounded at $1839.4.

Resistance: 1897.5, 1930.8, 1962.4

Support levels: 1839.4, 1802.5, 1776.6

LTC：

LTC rebounded and pulled back to the 5-day line to confirm the bottom support. $85.2 below is the key point of the support line. LTC stood firmly at $85.2. The bulls increased their support strength. LTC will further strengthen. Next, LTC bottomed out and rebounded at $85.2.

Resistance: 89.2, 91.8, 93.4

Support levels: 85.2, 83.2, 81.5

DOGE：

There are many large-scale on-chain changes, which have a negative selling pressure on DOGE. DOGE rebounded at the 60-day line and made a V-shaped rebound on the hourly line. The $0.077 below is the key point of double pins. Once DOGE stands at $0.077, the bulls will increase their support and further strengthen the market. Next, DOGE rebounded at $0.077.

Resistance: 0.08, 0.083, 0.086

Support levels: 0.077, 0.074, 0.069

IN：

FIL bottomed out along the 5-day line and fell back to the 200-day line. The hourly line continued to spike, accompanied by the weakening of bullish volume, indicating that it is still in a volatile trend. It rebounded at $5.16 below, confirming the bottom support. Only by standing firmly at $5.16 can it bottom out and strengthen, entering a bullish compensatory trend. Next, FIL bottomed out and rebounded at $5.16.

Resistance: 5.42, 5.62, 5.88

Support levels: 5.16, 4.87, 4.62

Summarize

BTC rebounded with volatility, and small-coin spot entered a repair trend. Wait patiently for the mainstream to bottom out first. Small-coins will make compensatory rotations to confirm the bottom support. Hold the spot and wait for a rebound opportunity.