Why hasn't the market improved recently?
Several reasons:
1. Yesterday, Fed officials continued to emphasize that there are risks in cutting interest rates too early.
Recently, many Fed officials have been emphasizing this message, which further reduces the possibility of a rate cut in June.
2. The Israeli Defense Minister hinted that the situation in the north may escalate.
Currently, the negotiations between Hamas and Israel have stalled. In order to promote peace, the United States has seized bombs that were originally intended to be sent to Israel. Delegations from various countries are still in Cairo, Egypt, waiting for another round of talks. If they can reach an agreement, BTC is expected to improve, otherwise there is a risk of falling below $60,000.
3. On-chain data
Yesterday, about 3,000 BTC flowed out of the exchange. It has been flowing in for the past few days, but it started to flow out yesterday, which is a small positive.
Stablecoins still have not flowed into the exchange in large quantities, which is bearish.
There is not much money flowing into the US ETF.
In the near future, it depends on whether Israel and Hamas have reached a peace agreement, and in the medium term, it depends on the Fed's policy.
The next blockbuster data is May 15. Keep more bullets to prevent negative bottom-fishing!
It is easy to lose hold of the volatile market. The market continues to fluctuate. For the next opportunity, the market is currently cultivating the thinking of a pullback after a little pull. Yesterday, it was said that the bull was coming, and today it was said that the bull was gone. If I had known, I would have sold it yesterday.
This time is still a good time to layout, because most people are easy to lose hold at this time, and no one in the currency circle makes a lot of money by frequent short-term trading. Those who make a lot of money are all long-term thinking and quietly waiting for layout.
The daily level of the market is still testing the bottom support position. At present, the position of 58,000 has become very, very critical. If this position falls below, then there is a high probability that it will test the strong support near 52,000. I personally think that even if there is a short-term negative adjustment, the top is still near 52,000, so there is nothing to worry about.
Next, keep an eye on the position near 58,000 on the daily level. The more it falls, the more you need to cover your position, and then hold the spot. Wait until the second half of the year, and you will experience the fun of making money.
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