After the release of CPI yesterday, the cryptocurrency market experienced a deep V reversal. Those who followed the prompts and increased their positions made a lot of money.
Now the question is: will the trend continue? Should we stop profit in time?
Market analysis
From the on-chain data,
(1) Stablecoins flowed into exchanges in large quantities, returning to the value at the beginning of May, which is a positive sign
(2) BTC flowed out of exchanges in large quantities. More than 20,000 BTC flowed out of exchanges yesterday, which is a positive sign
The on-chain data is positive, but there are still two major black swans that are worrying!
There are two other threats to the cryptocurrency market at present
(1) The war between Israel and Hamas. If the conflict escalates, the price will fall a little
(2) The deadline for Mentougou to release coins is October this year. We may have to be careful when it comes to September
Some brothers privately chatted that their short positions were liquidated this morning, so when trading, we should change our minds at any time and not be too stubborn.
The release of CPI last night was of great significance, which rekindled the hope of the Fed's interest rate cut. What we need to do is to hold the coins patiently and not short. The conclusion was given last night. BTC is expected to return to $70,000. Once the trend reverses and moves, it will not only last for 24 hours, so it is recommended to hold it patiently and stop profit at 30% of the coins that earn a lot to prevent missing out on the future market.
BTC is expected to return to $70,000. Once the trend reverses and moves, it will not only last for 24 hours,
Therefore, it is recommended to hold it patiently and stop profit at 30% of the coins that earn a lot to prevent missing out on the future market.
Brothers who are short can wait for the market to retrace today,
and get on board CHR, AR, FTM, Matic and other currencies.
Recommendation reasons:
Chr: low market value and high potential, the main network is about to be launched.
FTM: The founder has his own popularity and strong ability to shout orders, and the new version of Sonic public chain is about to be launched.
AR: AO parallel computers are popular, and the potential for transformation into public chains has greatly increased. The current price is $33.
MATIC: The callback is in place, and the currency may be changed to POLS around June, and there is speculation.
If you want to know more about the relevant knowledge of the currency circle and first-hand cutting-edge information, follow Tianmeng. Junyangli publishes market analysis every day and recommends high-quality potential currencies
