On June 16, Monday, a study released by the Bank of Korea pointed out that South Korea needs to closely monitor the fluctuations of the Renminbi exchange rate, especially during periods of global uncertainty triggered by trade wars, as the rise and fall of the Renminbi is likely to affect the movement of the Korean won.
The research shows that the correlation between the Korean won and the Renminbi is strong, with an average correlation of about 0.6 since 2018. At times, this relationship is more pronounced, including during the escalation of the China-U.S. trade friction from 2018 to 2019, the aggressive interest rate hike cycle of the Federal Reserve from February 2022 to April 2023, and the changes in policy expectations after Trump’s successful re-election in 2024.
Bank of Korea economist Cho Sangheum explained at the press conference that the core reason for the enhanced correlation between the won and the Renminbi is the common exposure of both countries to the U.S. dollar exchange rate, as well as the deeply intertwined trade relationship between China and South Korea.
BTC: On the 4-hour level, the price continues to stay above the upper Bollinger Band, showing a strong price trend. The short-term market is overbought, and it may be appropriate to reduce positions and take profits.
On the daily level, the price continues to oscillate near the moving averages, and the overall market remains volatile.
Overall
Support level at 106500, resistance level at 106900.
ETH: On the 4-hour level, the price continues to stay above the upper Bollinger Band, showing a strong price trend. The short-term market is overbought, and it may be appropriate to reduce positions and take profits, with a support level at 2600 and a resistance level at 2620.
LTC: The price continues to stay below the upper Bollinger Band, showing a strong price trend, with a support level at 86 and a resistance level at 88.
BCH: The price continues to stay above the middle Bollinger Band, and the price trend remains healthy, with a support level at 440 and a resistance level at 470.
Good evening, brothers!
Today, let's talk about the position of investment in everyone's mind.
Some people treat investment as their main business, which allows for more focus on investing, but at the same time, this also brings greater pressure, as all income sources rely on investment.
Others treat investment as a side business, which I advocate more because investment and the main business are fundamentally not contradictory. Moreover, having a main business makes investing easier, as daily expenses are supported by the main business, and investments are often about making most of the money in a short time. The rest of the trading time is either waiting to buy or waiting to sell, so investment as a side business is more suitable for most people.
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