Today's market analysis:
BTC：
The low point of BTC's pin in the morning just happened to be in the weekly support area of 58360 given last night. There is no big rebound space before the hourly line is consolidated. The short-term pressure is 60100~60740. Lower your expectations and move fast. The overall market here is a tried and tested mode of watching more and doing less! The reference support area of Figure C is around 55080~52400. If you can reach it, you can grab the mid-line rebound.
ETH：
After ETH reached the support level given yesterday, it only played a buffering role, which was only a partial rebound. There was also support going down, but at the moment of posting, there was no structure that could support long-term operations. A safe buying point requires a structure to be formed. Before that, it was better to go low and bet on the opportunity of a sharp drop and rebound. The support point reference is 2862~2958! If there is a completed pattern, follow it up separately!
SUN:
Yesterday, the SOL price reached the support level, which only delayed the decline and was just a rebound within the range. The current price has reached the support level of 133, showing signs of stopping the decline, but there is no obvious room for rebound.
1. If you take the red arrow route, you need to wait until the hourly line is sorted out before you can buy!
2. If you follow the route of the blue arrow, you can take the initiative to grab the rebound in the low area of 124~121!
Factors Affecting Market Sentiment
Mt. Gox is expected to release $9 billion worth of Bitcoin to its creditors, raising concerns about potential downward pressure on the market. If a large number of these Bitcoins are sold, the market could face more pressure. Despite this, some market analysts, including Tom Lee, remain optimistic, predicting that Bitcoin could reach $150,000 by the end of 2024, provided the market sees a positive correction later this year.
Another key issue contributing to the low sentiment in the Bitcoin market is the lack of significant recent inflows into Bitcoin exchange-traded funds (ETFs). ETF inflows have been minimal, significantly impacting investor confidence, according to Farside Investors. Additionally, GCM Investment’s Kudret Ayyldr noted that Bitcoin’s failure to sustain levels above $67,500 since April is concerning, predicting that Bitcoin could pull back to the $48,000 to $50,000 range.
Today I recommend two spot contracts with a relatively good profit and loss ratio.
STG
The current price is $0.372. The current price has returned to the bottom range, and the circulating market value is less than $80 million. As one of the strong coins in the DeFi sector, it is very good to enter the spot market at this position, and the profit is expected to be at least doubled. It is recommended to hold the spot in the medium term!
AI
The current price is $0.594. As a new IEO project on Binance this year, the price of AI has been consolidating for a while. At present, the price is limited when it steps back to the lower space, and there is a high probability of a wave of stop-loss and rise. The current circulating market value is $116 million. It is recommended to hold the spot in the medium term, with a target profit of more than double!
That’s all for today’s article. We are currently in a bull market, and things are turbulent. We share passwords every day.
#sol趋势 #ETH🔥🔥🔥🔥🔥🔥 #AI幣 #STG
