MicroStrategy recently purchased 1,550 coins; is the bullish trend in the crypto market beginning to make a comeback?

CN
7 hours ago

The head of MicroStrategy finally responded today to the earlier event of selling 32 bitcoins; the speculation aligns with Old Cui's guess, aimed at testing and optimizing tax. It serves as an explanation for this event, but it is of little significance, although there are signs of recovery, as the testing around the 60,000 threshold is still ongoing. Although a written response has appeared, it is essential for everyone to remember that such testing indicates there will be signs of outflow in the future. Most companies in the cryptocurrency industry have undergone reform in their principles, meaning that in the future, not only will there be purchases, but there will also be substantial sell-offs for profit. For everyone, an adaptation process is indeed required, including BlackRock's continuous deposits of 1,564 BTC into Coinbase, which show continuous signs of selling, making it difficult to change the dominance of shorts in the short term. Currently, the price of Bitcoin is around 61,800, and the recent price has been fluctuating around the 61-63 range. Everyone should remember that this range is extremely critical.


Looking back, let’s analyze the future trends together; without a doubt, the events that can influence the cryptocurrency market at this stage include military events (the US-Iran conflict affecting oil prices, simultaneously impacting interest rate cuts and hikes as well as choices between expanding and contracting the balance sheet); secondly, the imminent opening of the World Cup may lead to a withdrawal of liquidity. The data given to Old Cui indicates that liquidity has already been withdrawn, and the future impact on the cryptocurrency market will not be significant (it will not cause a collapse effect on prices, but it remains a bearish option). Old Cui's personal subjective perception leans towards bullish; the current price is extremely enticing. Looking at it yearly, it is already a low point for the year, suitable for spot entry. The realistic data and signals provided are completely contrary; the market shows signs of further decline. From the linear indicators, whether it is MACD, Bollinger Bands, KDJ, or RSI values, they are all leaning towards bearish, which also indicates that there is indeed a certain distance to the bottom.


MicroStrategy's latest data has already bought in.

Old Cui simply explains that more users hope Old Cui will provide specific points directly, without too much hesitation. From a linear perspective, at least a bullish candlestick of about 2,000-3,000 points needs to appear to see a reversal in the rise of Bitcoin, and the pullback depth cannot exceed 1,000 points; there must be signs of stability before one can enter long positions in contract form. Besides, for all contract operations, whenever a new high appears intraday, one can enter short positions, with the profit target for shorts reaching 1,000 points. For example, yesterday's new high was around 62,800, and today's short operation could enter in the 62,500-63,500 range. However, spot users can choose to enter at the right time, and there is no need to wait for a new low; the downward space compared to the upward space is insufficient. At this stage, if one can enter with enough holding time, the possibility of doubling is extremely high, and waiting for an absolute low might mean missing this opportunity. To conclude, I will end with a quote from CZ: opportunities may seem small today, but regrets may seem greater in the future!

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