Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: June 13, 11:16 AM Beijing time
Market Information
- Report: 74% of family offices have allocated or are considering allocating digital assets;
- Trump claims to be creating a clear market framework for cryptocurrencies;
- The U.S. SEC delays approval of Grayscale's Hedera ETF application;
- The Hong Kong Securities and Futures Commission plans to restrict misleading financial names, covering "virtual assets";
- Data shows that expectations for two interest rate cuts by the Federal Reserve this year are rising;
Market Review
As of now, Bitcoin has dropped to a low of 102614, and Ethereum has dropped to a low of 2433. The market has been in a continuous decline from yesterday to today.
Market Analysis
Bitcoin:
From the daily chart, although Bitcoin's decline is rapid, it has not broken below the short-term low of 100305. We predicted this decline earlier, but did not anticipate it would drop this deep. Currently, the low has just reached the second support level of this pullback around 102500. The 4-hour chart shows a pin bar, indicating a rebound. The chance of breaking below the 4-hour closing line at 12 o'clock is low. For short-term trading, a long position can be established around 103500, with additional purchases near 102500, and a stop loss around 101500. The target is in the range of 107500-109000. Please manage your entry opportunities; for short-term trading, control risks and manage profits and losses yourself.
Ethereum:
From the daily chart, Ethereum previously surged and broke through the consolidation range. It was expected to enter further upward movement, but the market is unpredictable. Bitcoin's decline has led Ethereum back into the consolidation range. After testing the lower support around 2425, it has stopped falling. The support at 2425 is relatively strong, having been defended multiple times. In trading, focus on positioning around this support. Recommended entry point is around 2485 for long positions, with a stop loss at 2400 and a target in the range of 2700-2750. Please manage your entry opportunities; for short-term trading, control risks and manage profits and losses yourself.
In summary:
Both Bitcoin and Ethereum have declined to near support levels, and short-term long positions can be established.
The article is time-sensitive, be aware of risks. The above is only personal advice and for reference!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cups." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.
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