24/06/18BTC’s important support was tested repeatedly, the bulls struggled to rebound but were blocked, and the altcoins fell sharply!
The daily line fell below MA60 and MA120. Although today's closing line has not yet been finalized, it is basically a hammer line. As of the time of writing, the lowest pin was 64359. If the rebound fails to recover to 65000, it will continue to fall.
Ethereum's second bottoming out of MA60 and MA120 is still above 3362 for the time being, but it is still led by Bitcoin and it is difficult to develop an independent market. As for the copycat market, forget it at the moment, as it has generally fallen by more than ten to twenty points.
24/06/07 The European Central Bank cut interest rates for the first time in 5 years. BTC was rejected at 72,000 many times. Things to pay attention to in the short term!
24/06/11 Morgan shorted gold futures by one trillion U.S. dollars, and the U.S. dollar index continued to act up. How should the Crypto market respond?
24/06/12 Potential M-head at the weekly level, reduce positions when spot prices rise, beware of a sharp drop that replicates the 519 market!
24/6/13BTC staged a double kill of long and short positions, CRV may be at risk of collapse, and the downward trend has not changed
24/06/14 was rejected under strong pressure, the daily line has two Yins and Yangs, and a sharp drop is coming!
We have basically grasped and warned about the whole market trend in a relatively timely manner over the past few months. We have repeatedly touched 72,000 and rebounded, but we have been warned that it will plummet. The market trend is also as expected. In fact, the reason is very simple. If you can't get through the pressure, you can see the callback. People who understand it will naturally understand it, and there is no need for too much technical analysis...
Flatbread
The daily price of Bitcoin fell below the three moving averages, and is currently in a bearish position. The weekly M-shaped head fell below the previous head and shoulders bottom neckline support of 66,000, and the next important support is 62,000-63,000. The daily trend is also bearish, and after testing the 65,000 support three times, it fell below, and the trend has not changed.
The daily MA moving average shows a bearish signal. A bigger rebound opportunity depends on the bottom support of the 59600-60600 box. If it continues to fall below, it will directly test the support of 56552. There is also a potential perfect bullish bat pattern of 43000-50000. I will focus on 60600｜56552｜43000 for bargain hunting opportunities.
The 4-hour chart oscillates around 65,000 and a descending wedge appears twice in 4 hours. There is hope for a short-term rebound around 63,000-64,000.
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ether
Ethereum rebounded but did not recover the double-yin and Yang and continued to fall. It is still at the bottom of the double-yin and Yang. Although it has tested the needle for the second time, the weekly line retracement to MA20 is exactly the same as Bitcoin. The probability of a big break under the influence of Bitcoin is still relatively high.
The bulls on the market are struggling to support the rebound under pressure. The altcoins have already fallen sharply and many altcoins have fallen below the previous platform support. Even if the ETF spot makes up for the rise through ETH in the later period, it is still a question whether some altcoins can rise back quickly. This round of institutional bull market is very complicated and the money-making effect is poor. BTC American-style operations are increasingly tending towards US stocks. The correlation between Bitcoin and the US stock market has reached the highest level in 18 months, which explains the problem. In addition, this round of bull market under high interest rates is different from the bull market in 20-21.
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