Last week, the market continued its weak and volatile consolidation trend, with no substantial breakthrough in the market. Although there is a certain downward advantage, it has not been extended significantly, and the current market is still running within a box. Yesterday, the market fell below the 29,000 mark again.
Market analysis:
In the 4-hour technical structure, the opening of Bollinger Bands shrinks, and the K line runs below the middle track. The bull volume can gradually increase, the KDJ three lines run together, and the K line shows a step-by-step pause. The overall trend is relatively slow and does not show much volatility. There is a lack of sustained inertia between rises and falls. In the short term, the support below is still effective, and the market is expected to rebound. In a volatile market, the focus is on grasping the range. Pay attention to the pressure on the upper track of 29500 during the day. If the space and amplitude are small, short-term operations should not be excessively pursued to avoid frequent saw-saw-like washouts.
Yesterday, Friday was non-agricultural day, and the overall performance of the market was mediocre, with 80% of the time maintaining a range of 29050-29260. Although the non-agricultural data was positive, it still failed to break through the four-hour suppression. In the early morning, the bottom of the first pin test reached 28900, and at 4 o'clock in the morning, the pin reached the position of 28800! It is now finishing near 29100.
Market analysis:
Today, the market has closed a long needle. Although it has not hit a new low, it has not yet seen the bottom divergence we have been looking forward to, so it is impossible to form a second-stage bottom divergence. Therefore, we need to continue to monitor whether there are new lows. However, a gold needle closed at the 28800 position on the four-hour chart, which is also an important bottom in 21, suggesting that the continuous needles on the short-term line failed to break the position. In the short term, the market may rebound to a certain extent. However, the upper pressure has already formed an underwater dead cross on the 4-6 hour chart, and the bottom divergence from MACD on the 12-hour chart is about to appear an underwater dead cross, which makes us need to pay special attention to the suppression strength of the 4-6 hour MA60.
The overall market fluctuations yesterday were not large and were still in a range-bound state. The market rebounded in the morning and tested to around 29,200 before being suppressed. In the evening, the market rebounded with slight shock and tested to around 29,400. The current market is running near 29100.
Market analysis:
The four-hour chart shows that the current market is running around the middle track of the Bollinger Bands, and the bullish energy column continues to shrink. The direction of the Bollinger Bands is still unclear, and the market is expected to wait for the release of non-agricultural data in the evening. MACD shows mainly shocks, and KDJ three lines merge, so it is expected that the market will experience a slight rebound before continuing to fall. After touching the 30,000 support above, the market continued to decline, indicating that the pressure above was high. Although the pullback was accompanied by a rebound, the strength of the rebound was limited. It is recommended that selling at high prices and absorbing at low prices should be the main strategy for day-to-day operations.
Entry is a process of trial and error. No entry can guarantee 100% of what will happen next. Entry is not the whole of trading, it is only the beginning of trading.
Looking for the perfect entry is the biggest trap in trading. Only by getting through this level can we truly start to think about what trading is. Only then can we really get involved in these subsequent links.
2. About stop loss
Stop loss must be decisive and resolute. This is an introductory lesson in trading. The premise of risky trading is to control risks. Only by being able to proactively cut off losses can you put the initiative over the life and death of your account into your own hands. Only then can we have the opportunity to continue moving forward in an uncertain market.
The current market as a whole is still in a state of shock, especially for BTC. Yesterday, BTC prices rebounded and once exceeded the $30,000 mark, while the current daily bottom support level is still near $29,000. It is important to note that the break of the support level is usually defined by the entity of the daily line, so last Tuesday's break is a virtual break.
Yesterday's closing price was a negative line, and today's performance will determine the next trend. If a large negative line continues to form today, it may be defined as a breakout, suggesting that a larger downward trend may occur. On the contrary, if the market remains volatile, then we can continue to observe.
Regarding the trend of Bitcoin, yesterday showed a V-shaped reversal roller coaster trend. The Asian market rose, the European market started to fall, and the US market continued to fall despite the negative ADP data. The overall market looked very weak.
Looking at the daily chart, Bitcoin is still running above the 60-day moving average. Today's focus is on the strength of the rebound, and the intensive suppression level is between 29250-29300. In view of yesterday's sharp drop and the upcoming non-farm payroll data on Friday, the market is expected to be volatile today and tomorrow.
Therefore, day traders are advised to remain prudent and approach the market with a bearish mindset for the time being. For intraday operations, you can first focus on short-selling opportunities, but you need to pay close attention to whether there is a reversal signal, because the market trend may affect the trading strategy.
Yesterday, the market rebounded slightly to around 30,000 in the morning, but failed to move upward steadily. Instead, it fluctuated downwards under pressure, with the lowest falling to around 29,000. The short-selling strategy provided before near 30,000 has been verified. Yesterday's market was highly volatile due to the news, and both the long and short sides fluctuated by more than a thousand points. Congratulations to the friends who followed the operation and made profits. At present, the currency price has stabilized near 29100 and is in the process of shock recovery.
Market analysis:
Judging from the four-hour chart of the technical structure, the Bollinger Bands are operating in an open state. The market has closed a long lower shadow line after a continuous downward trend. It is currently stepping back slightly and turning into a broken Yang form for adjustment, but the overall rebound The intensity is not strong. The MACD indicator shows that the two lines cross downward, and the short momentum gradually weakens, but the rebound trend is not yet obvious. The three lines of the KDJ indicator cross and run downward. Looking at the daily line, after retracing in the early morning and establishing a bottom, the market has reached the support level and is expected to continue to rebound based on the support. Bulls are currently in a consolidation range and are slowly accumulating energy.
Yesterday was the time for the halving of LTC. Many people had expected a big rise, but in fact the market did not usher in a sharp rise as expected. However, such a situation is actually not unexpected. In events such as the Bitcoin halving, the main players usually start hyping it half a year in advance. By the time the actual halving event comes, the good news has been fully reflected in the price, causing the market to lose the momentum for further rises, and may even become negative. . In a bull market, market sentiment mainly revolves around Bitcoin halving, while other currencies have different market performances.
It is worth noting that for the halving market of other currencies, major investors will often enter the market in advance, start speculation, and then start shipping 1-2 months before the halving. Therefore, when retail investors enter the market blindly chasing halving hotspots, they may actually be picking up the high-priced orders left by the main investors.
Cryptocurrency Halving: Respond rationally to market fluctuations!
When facing halving events or other important events in the cryptocurrency market, investors should pay attention to the following points:
Understand the halving mechanism: A halving is an important event in a specific cryptocurrency protocol and usually means that the mining rewards for that currency will be cut in half. This may affect supply and price. Before considering investing, be sure to have a deep understanding of the coin's halving mechanism and the impact of previous halving events on price.
Diversification of investment strategies: Although the halving event may bring about certain market fluctuations, investors should not rely solely on this event as the sole basis for decision-making. A reasonable investment strategy should be diversified and combine short-term events with long-term fundamentals to reduce investment risks.
Independent Thinking: The Key to Being a Smart Investor
When the vast majority of people in the market tend to look in one direction, it is easy to follow the crowd and have erroneous thinking, allowing other people's opinions to replace your own thinking, thus losing critical thinking. In this case, we should calm down, observe the market with our own eyes, listen more, see more, and learn more. As an investor, people who are unwilling to learn are actually just pure speculators, and they are stupid speculators. We need to be smart investors, equipped with smart brains and sophisticated strategies.
There is no shortage of analysts in the market, but what is really missing is analysts who dare to criticize investors. Although analysts serve clients, they are also investment mentors. A good mentor should have the right to speak, provide objective views and suggestions, and guide investors to make wise decisions.
Some plans and thoughts on the second half of the year (long term)
In planning and thinking about the second half of the year (long term), I’ve been thinking about what’s most important next. Recently, I had a long discussion with my friends in the circle, mainly focusing on the issue of opening positions in the big cycle. Although I have written several articles before, I felt that I had not thought deeply enough about this issue, so I decided to explore the issue of positioning in depth with a friend.
For big cycles, I tend to think there may be a good buying opportunity before the big pie (Bitcoin) halves. My logic is that historically in 2015 and 2019, after emerging from the big bear market, they did not immediately enter the big bull market, but there would be unexpected market trends, such as the 312 incident in 2020. Therefore, I think this is a good buying point at this time. However, I also knew that such an opportunity might not necessarily come, so I started thinking: If such an opportunity comes, how should I respond? And if the opportunity does not arise, what are the countermeasures? In addition, I am still thinking about how to better allocate the funds in hand and how to formulate a reasonable position building strategy.
Yesterday, the market bottomed out first and then the bulls returned to consolidate and run above 29,000. They quickly tested support near 28,500 during the session and quickly rose to around 28,800. In the early hours of this morning, the market continued to move upward slowly after breaking through the 29,000 mark. After consolidation and shock, it ushered in a strong rise, once reaching around 30,000. The current market is running around 29800.
Market analysis:
On the four-hour level, the Bollinger Bands are opening and running, the K line is above the middle rail, the MACD double lines cross upward, and the short energy column shrinks and turns to long operation. On the one-hour level, the Bollinger Bands are also opening and running, the K line is close to the upper track, the MACD double lines continue to run upward, and the bullish energy column is showing heavy volume. However, the current market has retraced in the short term after hitting the upper pressure level. Judging from the short-term hourly chart, the market has experienced a rise and has now reached the pressure area of 29,800, which is at a high level. In the short term, if you want to continue to break through, you may need to perform a retracement. Then look for opportunities to continue exploring upwards. Therefore, it is recommended to maintain the operation idea of high altitude, low and long during the day.
The secret to making money in the cryptocurrency world in 2023: Seize the historical stage and innovative projects
There have always been various opportunities to make money in the currency circle, attracting a large number of people. In this article, I will tell you how to seize the opportunity and let you understand where the opportunity currently stands. First of all, we need to understand what are the major opportunities to make money in the currency circle. Opportunities are short-lived, and if you don't prepare in advance, you will only regret it later. In my six years of experience in the currency circle, I have summarized that every big opportunity mainly includes two aspects: one is the change in the way of issuing coins, and the other is the birth of innovative projects. Often, the latter is conceived in the former.
There is currently a shortage of funds in the crypto market, which mainly flows to technology stocks, U.S. bonds, money market funds and overnight repurchases, etc., causing disruption to the liquidity of the currency market. In August, there may be 102 billion US dollars of treasury bonds to further disrupt market liquidity, especially affecting the currency market.
Today, Bitcoin fell below 29,000, forming a completely broken trend. There was a rebound near 29,000 before, but today's breakout means that the space below the short position has further expanded, and it is expected to continue to fall. In the short term, the upper pressure is around 29300.
In the evening, you can refer to the short market near 28900-29000, set the defensive position at 29300, and first look at the target near 28400.
There is a view circulating in the currency circle that it is because the project parties of most of the newly launched projects usually have a lot of bargaining chips in their hands. Through a series of hype and publicity, they attracted a large number of investors to participate, and the popularity of the project rose rapidly. Investors use real money to buy chips in the hands of the project party until the project party loses its ability to control the market. At this time, the project often comes to an end. In the next round of bull market, if you want to hype old projects again, who will come to pull the market? After all, the project party is unlikely to spend money to buy back the chips in the hands of investors. Therefore, some project parties would rather choose to launch new projects and borrow the enthusiasm of old projects to harvest the market again.
The SEC may reject BlackRock’s Bitcoin ETF application. The first response cycle for the review is this month, and for the first time, this application will not go so smoothly. Therefore, there is a high probability that it will be rejected. The rebound at the end of June is affected by this positive sentiment. Once rejected, it will hit the short-term hard. Although we all know that this application will eventually be approved, it is a long way.