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 26, 9:08 AM Beijing Time
Market Information
- SEC Commissioner Hester Peirce admitted that "the agency has indeed mishandled Bitcoin exchange-traded products";
- White House officials stated that the U.S. government has an "accumulation plan" for purchasing Bitcoin;
- Barclays Bank will prohibit credit card purchases of cryptocurrencies starting Friday;
- Fidelity, a $6 trillion asset management company, stated that Bitcoin and cryptocurrencies "will continue to evolve";
- Powell: There is a high degree of uncertainty in the current economic situation;
- Powell: Significant progress has been made towards a stablecoin framework;
Market Review
Bitcoin has rebounded from the 98115 position without looking back, with a peak rebound at 108095, a rebound of about 10,000 points. Ethereum rebounded from 2111 to 2481, a rebound of about 370 points;
Market Analysis
Bitcoin
From the daily chart, after Bitcoin fell below the short-term support around 103000, it tested the next support around 97600 and then made a rebound without looking back. Although the rebound is strong, it has not broken through the previous high of 110653. Overall, it is in a volatile trend at a high level, and the K-line is currently in a downward channel. This rebound has just reached the short-term pressure. In trading, do not expect a breakthrough; instead, consider short positions around the upper pressure. Recommended entry point is near the 108000 pressure level, and around this point, set up short positions. If it goes above 110000, do not hold the short position. The target is in the 102000-100000 range; manage your own entry opportunities. For short-term trading, control risks and manage your own profits and losses;
Ethereum
Ethereum has broken below the previous continuous fluctuation range of 2425-2745. The current rise has just reached the bottom of the previous fluctuation range, where pressure has turned into support. The chances of Ethereum making a rebound in the future are slim, and it is likely to form a new fluctuation range around the lower level. Coupled with Bitcoin currently reaching the pressure area, the chances of a decline increase. In trading, consider short positions around 2425, with a stop loss of 70-80 points. The target is in the 2250-2190 range; manage your own entry opportunities. For short-term trading, control risks and manage your own profits and losses;
In summary:
Currently, both Bitcoin and Ethereum are under pressure, and short-term corrections are expected to begin;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
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 cup." 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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