Brothers, this is incredible. The air force launched a concentrated attack, and the bulls were beaten to a pulp. More than 99% of the 400 trading pairs on the bn platform were all in the red, and the currency with the highest decline reached -35%.
Bitcoin even fell below the 60,000 mark, reaching a low of around 53,500. Judging from this trend, there is no sign of stopping the decline. The 24-hour liquidation data reached 656 million US dollars, and the number of liquidated people exceeded 230,000.
I thought the non-farm payrolls data at 8:30 pm would be able to turn the tide and stop the decline, but the June non-farm payrolls data was just released, with mixed results. The number of employed people increased by 206,000, which was expected to increase by 190,000 and the previous value was 272,000. The unemployment rate in June was 4.1%, which was expected to be 4.0% and the previous value was 4.0%.
The Bureau of Labor Statistics: The number of new non-agricultural jobs in April was revised from 165,000 to 108,000; the number of new non-agricultural jobs in May was revised from 272,000 to 218,000. After the revision, the total number of new jobs in April and May decreased by 111,000 compared with before the revision.
Judging from this set of data, the non-farm payrolls in April were indeed very inflated as Tang Ren expected, while the latest data in May showed that the basic data was at a normal level, which can probably be understood as the positive and negative factors offsetting each other.
However, according to the previous few times when the data came out, the situation was just like the rise first and then the fall. The market of Dabing Yitai experienced drastic fluctuations within 5 minutes after the data came out.
The current market situation has already had some of the flavor of 312 and 519. I believe many people are wondering: the U.S. stock market has not even opened yet, and why is there such a panic-like plunge in the market without any Wall Street institutions getting involved?
Some people say that it is the German government's crazy selling. However, Tangren checked and found that the total selling volume from Germany in the past few days was only 75 million US dollars. This amount does not even require ETF intervention, and the major exchanges in the market can completely digest it.
Some people also said that the plunge was caused by the selling pressure caused by the Mentougou compensation. However, according to the follow-up of the Tangren team, the Mentougou compensation was paid directly according to the currency value at that time, rather than according to the U standard. In this case, there would be no selling pressure at all.
Some people also say that the plunge was caused by the miners shutting down and selling pressure due to the reduced profits caused by the halving, which made it difficult for miners to survive. This reason can barely be considered as one, but it is not enough to cause panic in the entire market.
Therefore, Tangren believes that the only reasonable explanation is that the dog dealer is causing trouble. This wave of market crash is not just a simple pin, but a real selling of chips, which shows that the dog dealer is using the negative market news to create panic and let more retail investors follow suit and sell their chips.
The energy of this wave of plunge is very strong. Many brothers in the group said that the spot price has shrunk by 70%, not to mention the leeks who play contracts. The situation should be even more grim. However, such a wash-out often indicates the explosive potential in the second half of the bull market.
Looking back at past market conditions, after each such massive plunge, it is difficult to see a V-shaped rebound in the short term. After this wave of falling below the bottom support of 56,000 points, the market will enter a longer slow rebound cycle.
Therefore, brothers who want to buy at the bottom should not be anxious, wait and see, and you can build positions in batches if there is a pullback. The current copycat sector has been bleeding, and this is an inevitable result.
Since the outbreak of ETFs this year, too many new projects have emerged in the market, with market values of tens of billions at every turn. They have absorbed so much capital, and the bubble is so big. Now that the market is undergoing a comprehensive cleansing, it is inevitable that they will shrink severely.
However, the copycat sector still has a chance to turn around. With so many copycat sectors, there must be some high-quality projects and targets. As long as you do your homework and pick out some top projects, it should not be difficult to recover and turn around.
In short, finally back to the core, in the bull market, what to buy? How to buy? It is very important, but when to sell is more important. If you want to know more about the interpretation and strategy of the market, add a follow, find Tangren, and play in the crypto circle together.
02 Chinatown Coin Hunt
Tangren’s interpretation of the market
Pie: Pie market hit a new low of 53486. The market has not stopped falling and is still in a negative trend. It rebounded a small wave of new lows. The market continues to be bearish. The upper pressure is 56500 and the support is 52000.
Auntie: The lowest point fell below 2810. As mentioned in the morning session, the market has not stopped falling and will continue to look for support downward. The market continues to be bearish. The upper pressure level is 3100. The support level is 2550
In terms of copycat stocks: the copycat sector continues to plummet, and it is still a blunt knife cutting meat. For the time being, it is better to wait and see. It is not recommended to buy at the bottom. The current market has not reached the bottom and will continue to correct.
03 Chinatown Coin Hunt
Tangren Talks about Strategy
Since short-term strategies are time-sensitive and the market changes rapidly, many strategies cannot be shared with everyone in a timely manner. Therefore, you can read the introduction on the homepage of the article to find Tangren and send a message to receive it.
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.
