Many people said that the correction last night was caused by the non-agricultural data. My personal opinion is that the impact of non-agricultural data on the cryptocurrency market is far less important. News can only affect short-term trends and cannot change the overall trend, but the main force can use news to clean up the market.
FIL was very strong yesterday, and we also analyzed it on June 1st.
Let’s track the daily trend today.
1. The entire bottom oscillated for 54 days. From a time perspective, this wave of oscillation is enough.
2. The low point continues to rise and begins to try the upper pressure level.
3. Yesterday’s huge volume showed that the bulls were very strong.
4. Yesterday, the upper pressure level was not broken, and it also reached the long-term downward trend line, indicating that there is a certain amount of pressure from above.
Through the analysis of the above points, it can be seen that there is only one point representing the strength of the short position, and the other three points represent the strength of the long position. Moreover, when the bulls start to increase their volume, it is inevitable to break through the upper pressure level.
The current daily trend of FIL is still the same as the analysis on June 1. The previous ones were all the main force's accumulation stage. Yesterday's huge positive line represented that the bulls were ready to make a move.
Judging from the overall market, FIL's trend is very good and suitable for a mid-term trend, but it is difficult to say how much it will rise in the later period because of the great pressure from above.
Everyone has a different definition of medium-term and short-term trading. Some people think that short-term is a few hours at most, medium-term is 1-2 days, and a week is considered long-term.
In my trading system, trading within 2 days is short-term, and trading within 1-3 months is medium-term. I never do ultra-short-term trading of 15 minutes because it is too tiring and I can't make any money.
This is because everyone has a different definition of trading level, just like looking at the market, everyone has different views, some are bullish and some are bearish.
Therefore, I do not recommend trading based on my articles, because our viewpoints and trading cycles are different. Simply put, our thinking frequencies are different.
I can get results for a transaction because I have a trading system. I will analyze the market at any time to track the trend and operate according to the strategy of the trading system.
It does not mean that you can get results just by following the operation, so my article can only be used as a reference, and you cannot follow orders at will. For specific operations, points, click on the avatar introduction, and keep up with the team.
Every time I enter the market, I am very cautious. I look for market conditions that I can understand among multiple currencies, analyze them, list the evidence, draw conclusions, and then determine whether it is a short-term opportunity or a medium-term opportunity. Then I formulate strategies and position management before finally entering the market.
It looks like a simple transaction, but it requires a lot of preparation.
