Madman said…
Bitcoin has plummeted, and small coins are wailing everywhere. This is a good time for us to pick up chips. Let’s talk about the market first. Bitcoin hit 70,000 four times without success, fell back again, and continued to fluctuate repeatedly in the box:
From the perspective of technical graphics, the large head and shoulders bottom structure of the high platform has been perfectly formed. Counting the left shoulder from March 1 to the lowest point on May 1, it is exactly 2 months, so the formation time of the right shoulder is generally the same. It will be 2 months, so the probability of starting the main wave in July is extremely high;
Judging from the news, the Ethereum spot ETF will be launched from the end of June to the beginning of July. This wave of incremental funds is expected to bring new enthusiasm for long;
From a data point of view, this month’s non-farm payrolls exceeded expectations and will be repaired next month.
The superposition of several levels will help the rise in July. There is a high probability that June will still have to endure. The low on the right shoulder is near 63,500. If it can touch below 64,000, it will be an excellent opportunity to add short-term positions. The daily line hit with volume today, so we will look for support later. The strong supports are 65500 and 63500 respectively.
Let’s not talk about Ethereum. Once the ETF is listed later, the exchange rate against Bitcoin will rise. After all, the increase in real money will come from traditional institutions.
The situation is even worse for small coins. 90% of the small coins have now fallen to 56,000 of the big pie. It can be said that they have no profit-making effect. Among the thousands of small coins, only 20 or 30 of them have outperformed the big pie this year. , most of which are MEME coins, which can be described as horrific.
The core reason here is that there are too many small coins listed, the market value is too large, and there is no institutional funding support. So when will altcoin season actually arrive?
Madmen believe that funds will really spill over to these valuable small coins after Bitcoin reaches a new high. The current market value of small coins is not too expensive anymore, so it is a good time to build positions in batches.
In addition, OKX, the world's largest exchange, has been FUDed by various media recently. Regarding this kind of thing, the madman's solution has always been "a gentleman does not stand behind a dangerous wall". Come out to protect yourself first. You can first move to Binance or bg and the like, come back after the weather calms down.
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
〈[Madman Talks about Trends] It’s time to pick up chips: You still have to wait for June, and the main wave will start in July〉 This article was first published in "Block Guest".
