Brothers, this is incredible. The much-anticipated first presidential debate of 2024 started at nine o'clock this morning. This is the first time that the president and the former president have faced off on stage in four years.
We thought it would be a evenly matched confrontation, but what we saw was just a one-sided crushing. Throughout the debate, Biden's voice was hoarse, his answers were disorganized, and he was even incoherent when he was quibbling about his policies and record.
The two sides confronted each other for 45 minutes. ABC gave its comment on the first debate: Their debate was a war of words full of personal attacks, which could not give the public a new understanding of their policy goals.
CNN even jumped out to directly criticize Biden's poor performance and directly suggested that the Democratic Party should consider replacing Biden before the election.
Through this debate, it is obvious that Trump has a slight advantage. As an old investor in the crypto circle, Tang Ren certainly hopes that Trump can win. After all, this is a milestone that will benefit the crypto circle in the future.
In addition to the Biden-Trump battle, there is also an important May core PCE data to be released tonight. The previous value was 2.8% and the expected value was 2.6%. If it is lower than expected, the market will rise, and if it is higher than expected, it will fall. The market generally believes that this time the value will be lower than expected.
However, even with such good news, Tangren believes that the market will not rise too much. First, the good news has been exhausted. Today, another US$9 billion quarterly option delivery expires, which will have a certain suppression on the market. Second, the dog dealers have not yet finished replacing their chips. Third, the expectations of interest rate cuts have weakened and the impact of the panic caused by the Mentougou incident are all factors that suppress the market from taking off in the short term.
Fortunately, the Big Pie ETF stopped its net outflow and saw a small net inflow for three consecutive days. Yesterday, the net inflow was 11.8 million US dollars. The improvement in the funding side is a good sign. Everything is waiting for the arrival of the Auntie spot ETF. According to media predictions, it should be launched on July 4.
The Yitai ETF has not yet been launched, but you can start applying for the Sol spot ETF. Although the news has boosted the market, Tangren believes that the possibility of approval is almost zero at present. If we don’t talk about anything else, just looking at the market value and volatility, Sol is still several blocks behind the big cake and the second cake!
Let's take a look at the four kings in the circle. ZK has been cut in half, STRK has fallen from 7.7 to 0.7, and ZRO has been falling for a month since its launch. Blast also issued a coin two days ago, and it was cut in half as usual. The four kings of airdrops have become the four dead, and the ugly faces of the capital market are exposed. This year's VC projects are really not worth playing with.
Finally, let’s get back to the core. In a 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 market interpretation and strategy, please follow me and find Tangren to play in the crypto circle together.
02 Chinatown Coin Hunt
Tangren’s interpretation of the market
Big Pie: The four-hour line shows an upward trend, but the expiration of options today still suppresses the market. The market always fails to go up to 62,000, indicating that the current volume is not enough to support the market to rise. The market still needs to pull back. The upper pressure is 62,500 and the support is 59,800.
Auntie: Judging from the trend, the four-hour line is still very bullish, and the current hourly and daily lines have basically gone out of the bottom area. The specific take-off depends on when the ETF lands. The upper pressure level is 3550. The support level is 3420.
In terms of altcoins: the altcoin sector did not rise or fall much, with the meme sector seeing the largest increase, and some new coins seeing the largest decrease. Sol also saw a good increase due to news. During this period, Tangren has been suggesting the layout of the Sol sector. Those who have not yet laid out can still build a position and continue to pay attention to the MEME and SOL ecological sectors as well as L2.
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 time. Therefore, you can find Tangren by reading the introduction on the homepage of the article 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.
