Brothers, this is incredible. If the trend tonight is really as predicted by Tangren, it will be a thrilling and exciting show. Let's take a look at a picture below.
This is today's liquidation map. On it we can see that at the 4,000-point position, the short positions liquidated amounted to nearly 600 million US dollars, and at the 3,400-point position, the long positions liquidated amounted to about 1.8 billion US dollars.
According to the harvesting routine of the dog market over the years, this will definitely be a rare long and short double kill harvesting game. The previous ETF hot topics have already had their full effect, and the emotions of the leeks have been ignited. Under the condition that the ETF is likely to be approved, it is expected that the market will be pulled up to the 4,000 position.
If we add the approval of the 19b-4 document tonight, the whole sentiment is high and everyone thinks that there will be a big rise next. But at this time, there is an unexpected big drop, hitting the 3,400 point level, and neither the long nor the short position can escape.
This is simply a perfect operation. Not only did the dog dealer perfectly realize the maximum chip harvest, but it also connected with the overall market trend without any sense of incongruity, leaving no fault to be found. However, in the end, the price is still the same price, but the positions in the hands of many leeks are empty.
Don’t think that Tang Ren is exaggerating. According to on-chain monitoring data, Ethereum whales have recently shown explosive activity.
Among them is Jeffrey Wilcke, the co-founder of Yitai, who deposited 10,000 Yitai into the exchange this morning. QCP Capital Analysis also concluded that with the deadline for the Yitai ETF tonight, the market's implied volatility exceeds 100%, indicating that major changes may occur in the market.
At the same time, everyone should not forget that Grayscale still has 11 billion shares in circulation. If the selling pressure is released in the short term, it is entirely possible that the market will return to where it rose from.
However, those brothers who hold spot goods do not need to panic at all. The market will eventually be cleared of leveraged funds despite the ups and downs. As long as you stick to your original intentions and hold on to your coins for a rise, the risk is controllable.
Let's take a look at the Bitcoin ETF data on the 22nd. Yesterday, Bitcoin had a net inflow of 2,211 coins. Grayscale's shipments continued to decrease, with only 231 coins shipped yesterday. The net inflow of funds into the ETF was US$154 million. If this trend continues, BlackRock is expected to surpass Grayscale and become the institution with the largest Bitcoin holdings in the world by next week at the latest.
The current situation is a bit like a fight between gods and the suffering of mortals. The mainstream is jumping up and down, and the copycats have no chance to perform at all. This kind of market situation is the most difficult to control. If the copycats want to have an opportunity, Tangren believes that they will have to wait until the mainstream calms down before they can usher in an explosion.
So what we can do now is to be patient and let the bullets fly for a while. When the auntie rises strongly, it will lead to the take-off of the copycat. If you are entangled in what to buy and how to buy it, it doesn’t matter. Add a follow, find an assistant, bring your friends, and Tangren will eat meat with you. (Reminder that today’s essence is in the Tangren strategy section at the bottom)
Tangren’s interpretation of the market:
Bitcoin: The market fluctuated within 1,000 points as predicted by Tangren Morning Post, and the overall performance was weak. The intraday trend was mainly in the range of 69,000-70,000. Today, Bitcoin's transaction volume shrank pitifully. As of now, the full-day transaction volume is less than 4 billion US dollars. At present, a lot of funds in the entire network are waiting and watching the news of Ethereum ETF. It is suitable to wait and see for now. The upper pressure is 70,850 and the support is 68,550.
Auntie: The market fluctuated violently at night, and the market was washed out by needles up and down. Even if the ETF in the early morning cannot be passed, it is difficult for Auntie to return to below 3000 points. Institutions will not cut their losses and leave the market. 3000 points is the general cost position of institutions. If it is approved, the market will most likely break through the high point of 4094 in this bull market, and even test the position of 4500. However, the market will not go to a high level in a straight line. It is inevitable to repeatedly insert needles and liquidate leverage in the middle. Tangren believes that as long as you get on the bus decisively during the correction, the opportunities will become fewer and fewer, and hesitation will lead to failure.
For the altcoin sector: the entire market is still moving around the news of the approval of the Ethereum ETF. The altcoin sectors L2 and Restaking are following the strong rise of Ethereum. The focus will still be on L2, LSD and SOL series.
Tangren talks about strategy:
Strategy 1: The entry price of SSV on May 16 was 38.9, and the current price is 45.37, a small increase. Continue to observe. The short-term target is 54 and the long-term target is 180.
Strategy 2: Ambush W on May 18, entry price is 0.56, current price is 0.578, rotation has not yet arrived, continue to observe, sit tight and hold, target price is 0.8.
Strategy three: (new) May 20, ambush wld, entry price 4.8, current price 4.67, the price has fallen, those who haven’t gotten on the train can continue to get on, continue to observe patiently, short-term target 8.5, long-term target 21.3.
The article has a time limit. The real-time strategy of each day will be announced in the Tangren Strategy Group. If you are interested, follow Tangren and Assistant Jia Weixing. Leave your thoughts in the comment area and play and make money in the crypto circle together.
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.
