Brothers, this is terrible. Something big happened again last night. A technical bug occurred in the New York Stock Exchange, causing market fluctuations. As a result, more than 250 stocks such as Berkshire Hathaway and Bank of Monterey returned to the initial trading, and the prices plummeted by more than 99%.
The incident lasted for nearly an hour. It was rumored online that someone bought a large amount of stocks during this period and made a profit of 3.2 billion US dollars in one minute. Of course, the Federal Reserve rolled back the data directly afterwards, and all profits and losses were invalidated.
3.2 billion US dollars, why should they roll back the money they earned by their own ability? This is just bullshitting. Also, you pulled the Internet cable at the New York Stock Exchange last night, and you directly caused the crypto market to collapse. Do you have any shame?
Last night, Bitcoin was gathering strength to break through the 70,000 mark, but it just went up and then it was pulled down. The market has not recovered until today, and as a result, the Federal Reserve came up with a data rollback to deal with the matter.
If we talk about shamelessness, we have to look at the Federal Reserve! The U.S. stock market recovered after this data rollback, but who is responsible for the $130 million liquidation caused by the plunge in the crypto market last night?
Why should we crypto brothers pay for the trouble caused by the New York Stock Exchange? We in the crypto circle have suffered a lot from the big exchanges pulling out the internet cables, and now we are still harmed by the New York Stock Exchange pulling out the internet cables even though we are in a different circle. What a sin!
Complaints aside, our road to wealth in the crypto circle must continue. Judging from the trends in the first few days of June, Tangren believes that the second half of the bull market has already begun.
Judging from the volume of Bitcoin's attempt to break through the 70,000 mark again last night, although it failed to break through effectively, the monthly line has touched the rising support line, and a high-level shoulder bottom structure has been formed, indicating that the correction has basically ended, and it is likely to successfully break through above 70,000 in mid-June.
Yesterday, the Bitcoin ETF had a net inflow of US$105 million, totaling 151 Bitcoins. The largest purchasing institution was not BlackRock but Fidelity, with a total inflow of 1,115 Bitcoins.
From the perspective of funds, ETFs still maintain continuous net inflows, indicating that current investors are optimistic about future market conditions. This also most likely reflects that this week's non-farm data will not deviate too much from expectations.
In yesterday's article, Tangren made a prediction regarding the recently popular NOT. Today, as Tangren expected, there was a significant correction. Those who reduced their holdings yesterday should have avoided a profit-taking.
Next, Tangren believes that the sector rotation will start, and the outbreak of the copycat sector will intensify, especially the meme series where prices are driven mainly by emotions. Opportunities and risks coexist, and funds will rotate rapidly in the sector. Therefore, everyone must do their homework in selecting targets.
When copycats start to spring up everywhere and the market is booming, that is when the bull market reaches its climax. Therefore, Tangren’s view is not to adjust positions or change cars at will, let alone operate frequently. Sometimes getting off the car once may result in never finding another opportunity to get on again.
Finally, in a bull market, what to buy and how to buy are very important. However, when to sell is more important. If you want to understand more about the interpretation and decision-making of the news, please follow me and leave a message below the article. Tangren will play the crypto circle with you.
Tangren’s interpretation of the market:
Big cake: The market fluctuated around 69000 during the day, with a range of 800 points throughout the day, and the volume was severely reduced. However, the four-hour line was still on the rise. We will continue to see a breakthrough at 70000. If it fails to go up, it will fluctuate around 69000 for a longer period of time. The upper pressure level is 70000 and the support level is 68500.
Auntie: Today, Auntie fluctuated back and forth at the position of 3750, and did not fall below the new low in four hours. It is quite difficult for the current market to stabilize at 3800. In the short term, the market will still be mainly in the range of 3700-3800, with the pressure level at 3800 and the support level at 3700.
In terms of altcoins: the hot spots of altcoins are mainly focused on the MEME sector. Other sectors have performed poorly overall and are showing a trend of correction. Before a new hot spot narrative comes out, the hot spots of altcoins are still in the MEME sector. We said OK in the early trading session. You can continue to pay attention to Binance's new coin sector. Recently, there have been market starts. Be patient and wait for opportunities to appear. Continue to pay attention to the MEME and SOL ecosystems and the RWA sector.
Tangren talks about strategy:
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies need to be followed up and adjusted in a timely manner. Therefore, you can leave a message below the article to communicate.
The latest community strategy: ACE has increased by more than 20%, just continue to get the target position. Due to timeliness, the target was not announced in the article. Next, we will continue to focus on MEME and SOL ecology.
Strategy 1: Ambush W on May 18, entry price 0.56, current price 0.638, increase of 20%, continue to observe, hold tight, target 0.8.
Strategy 2: On May 20, ambush wld, entry price 4.8, current price 4.72, continue to hold patiently, short-term target 8.5, long-term target 21.3.
Strategy Three: (New) On June 4, ambush STRK, entry price 1.3, current price 1.28, continue to hold patiently, short-term target 1.54, long-term target 2.3.
Tangren will announce other strategies at any time. Due to the time limit of the article, everyone needs to take the initiative to obtain the daily real-time strategy. If you are interested, follow Tangren and leave your ideas in the comment area. Let’s play and make money in the crypto circle together.
The essence of Tangren's trading strategy: the first step is to determine the trading cycle, the second step is to confirm the trading direction, and the third step is to formulate a trading plan. The plan must clearly state: where to enter, why to enter, how much to enter, how to exit, where to exit, and why to exit?
What should you do if you get the market right? What should you do if you get it wrong? If you don’t understand the market, don’t give yourself problems.
Each of my plans includes three predetermined results: exit with a stop loss, exit with a breakeven, and exit with a profit. Regardless of the result, I will review and summarize the gains of this plan after the plan is completed.
