5.20 Market Analysis
Technical aspect:
From the weekly chart, BTC closed with a beautiful positive line, so this position is easy to start an acceleration, but we should focus on the intraday retracement in the past two days. The support below the retracement is 65,000 and 64,000. If these two positions are not broken, you can still get on the train. The defense position below is 63,000, and the resistance above is 67,200. If it can be effectively broken, there will be a chance to touch 70,000, so we should focus on whether the daily level can start a benign rise at this position, and the continuation of the next.
Ethereum's trend is relatively weak. If it wants to start an upward trend after breaking through this position, focus on the support below 3042, and prevent the hand position of 3000 from falling below. The short-term upper resistance is 3140, but there will be a small correction during the day
The current market is getting closer and closer to traditional finance, so it will become more and more stable and professional in the future. Therefore, the focus is on layout and reducing frequent operations
News:
Sector: AI sector (Nvidia's first quarter financial report on 22, the release of gpt5, and the Apple conference on June 10 Nvidia's stock will have shareholder repurchases, causing the stock to rise, providing graphics cards and chips to miners), sports sector, Ethereum sector, sol sector
Large amount unlocking: Pyth unlocks about 1 billion US dollars, etc. (don't touch it first)
No important data will be released this week, and more Fed officials will speak. The focus is on Powell's speech at 3:30 am tomorrow.
5.23 sec will review the application of Ethereum ETFs such as ARK!
From a macro-cyclical perspective, the global interest rate cut cycle is already underway, with more than a dozen major central banks cutting interest rates.
From now until the end of June, the European Central Bank, the Swiss National Bank, the Bank of Canada, and the National Bank of Poland will cut interest rates.
The Federal Reserve may start its first interest rate cut in September. Although interest rates have been cut, the global base interest rate is still high. After several interest rate cuts by the European Central Bank, there may still be 3%. After the Federal Reserve cuts interest rates this year, it is estimated that there will still be 4.8%. The era of low interest rates is gone, and the golden age of high-risk assets has ended!
So in the crypto market, we must also lower our expectations and go with the flow!
