Dear readers, today we bring you an analysis article about the cryptocurrency market. In this article, we will discuss the Fed's interest rate decision, the technical support of the cryptocurrency market, and the trend of Bitcoin and Ethereum. Please note that the pictures used in this article are for reference only and do not represent specific market trends.
First, let's take a look at the Fed's interest rate decision. In the early morning, the Fed announced its June interest rate decision and announced a pause in interest rate hikes. However, according to the Fed's dot plot, they may still raise interest rates within the year, which once again brings uncertainty to the market. The statement of the old water master also brought some pressure to the market. Affected by the negative impact of this news, major cryptocurrencies such as Bitcoin and Ethereum fell rapidly. Ethereum's trend has attracted particular attention. It has now reached the support level of the quarterly line 14 line. The market has different views on whether it can hold this support level. In addition, the war between the SEC and a certain security has also brought some uncertainty to the market. Technical support is crucial for the market, and now the market has come to the last hurdle. If the support level is broken, the market outlook will become unpredictable and can only be taken one step at a time.
Next, let's take a look at Ethereum's quarterly line. The quarterly line has reached the support level, and whether it can stop falling and rebound will be the key to the market. It is worth noting that when Ethereum fell sharply yesterday, some altcoins performed relatively strongly, which may be an opportunity for the market to stop falling.
For Bitcoin, tomorrow morning will be the key to close between the 2-day and 3-day lines, while the influence of the 5-day line will not be apparent until the 17th. Therefore, today's trend will be mainly affected by the first two. Let's take a look at the 2-day line first. The shape of the 2-day line has not yet been determined at the close of tomorrow morning, but for bulls, only two situations are more ideal. The first situation is the moth mode, that is, continue to break the black 86 line, but eventually form a needle with an ultra-long lower shadow, and then use this needle to lure the short. The key is not to break through $23,800, otherwise the situation will become dangerous. Another situation is that today's volatility is not large, keeping the Yinxian entity large, and closing a relatively stable tail. In this case, the next K line may show an effect similar to the parallel line, resulting in a rebound.
The trend of the 3-day and 5-day lines is basically similar to that of the 2-day line, so we will not analyze it too much here. Based on the 2-day and 3-day lines and their cycle coordination, we can conclude that only this trend is relatively strong in the market, and other trends are relatively weak. Of course, it does not mean that other trends will not occur. After all, they have appeared two or three times within the range visible to our naked eyes.
From a bullish perspective, we think about the problem from the perspective of how to gain benefits for the bulls. Therefore, these trends can be seen as a concept of the bulls, but they are also the best and worst options faced by the bulls. Apart from these trends, the remaining trends may put the bulls in trouble or make the bears stir up trouble. However, the final decision lies with the market itself.
In terms of operation, the previous operation strategy is still applicable, but the first half of the operation strategy may have been triggered by the stop loss. Now we enter the second half of the strategy operation time. It should be noted that the rationality of the strategy does not mean certain success. If you can accept a certain risk, you can refer to these strategies for operation. But if you are conservative about risk, it is more prudent to wait and see in this eventful time. We will continue to observe the market dynamics and stay calm. (Attached to the previous strategy: In summary, overall, the market does not have any major problems, but we need to be more patient in the ink stage. In terms of operation, the current volatility is not large, which is consistent with yesterday's operation strategy. For Bitcoin, you can still use the parallel line low point as a stop loss and go long; for Ethereum, you can use $1,712 as a stop loss. These operations have a certain rationality in the short term, but the safety is still uncertain. If the stop loss is triggered, then for Bitcoin, you can consider operating in the range of $24,300-24,900; for Ethereum, you can operate in the range of $1,620-1,670, and the reasonable stop loss levels are $23,600 and $1,610.)
To sum up, there are some uncertainties in the current market, such as the Fed's interest rate decision, the key position of technical support, and the war between the SEC and a certain security. For the cryptocurrency market, it will be crucial to pay attention to the quarterly support of Ethereum and the trend of the 2-day and 3-day lines of Bitcoin. Whether long or short, you should choose and take risks carefully. The market situation is complicated and confusing. We need to stay calm and wait for the dust to settle before reviewing and looking forward. #合约锦标赛 #BRC20 #pepe